Question: I need help joirnalizing these 2 things with explanations. There are 2 accounts and explanation boxes On August 1, Taylor Company lent S80 ,000 to

I need help joirnalizing these 2 things with explanations. There are 2 accounts and explanation boxes

On August 1, Taylor Company lent S80 ,000 to L King on a 90-day, 5% note. 12. Journalize for Taylor Company the lending of the money on August 1 13. Journalize the collection of the principal and interest at maturity Specify the date. Round interest to the nearest dollar 12. Journalize for Taylor Company the lending of the money on August 1. (Record debits first. then, credits Select the expl entry table For notes stated in days, use a 365-day year) Date Accounts and Explanation Debit Credit Aug 1 13. Journalize the collection of the principal and interest at maturity Specify the date. Round interest to the nearest dollar

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Score: 0 of 1 pt Say 7 of 15 (6 complete) HW Score: 37.22%, 5.58 of 15 S13-4 (similar to) Question Help Powell Corporation issued 8,500 shares of $5 stated value common stock for $13 per share on...

I need to finish assignment Assignment 6 WPs 21-1, 21-2, 21-3, 21-5, 21-6, 21-17, 21-18, 21-19, 21-20, 21-21 Assignment 7 WPs 30-1, 30-2, 30-4, 30-5, 30-21, 30-22, 30-23, 30-24 Assignment 8 WPs 20-1,...

I have attached 2 business research. Write a 700- to 1,050-word paper in which you practice identifying the critical first stage of developing any research study: State the purpose of the business...

On February 12, 2003, Nancy Trout and Delores Lake formed Kingfisher corporation to sell fishing tackle. Pertinent information regarding Kingfisher is summarized as follows: > Kingfisher's business...

Please scan the SEC Plain English that I've attached. Please visit to this link.http://www.sec.gov/Archives/edgar/data/320193/000119312513416534/d590790d10k.htm#toc590790_9 Please read pages 25...

Questions: 1. Using Bryson's power vs. interest criteria identify Coler's "player" stakeholders 2. What are the key factors in Coler's political environment that influence his decision-making? 3....

I am dyslexic so it takes much longer for me to do any reading, so any and all help is greatly appreciated. I will be sure to thumbs up! Please I need help... Report Layout Structure Table of...

Reflect on the Martha Stewart Fraud Triangle discussion you participated in last week and be sure to incorporate the insight you gained from participating in the activity. Specifically, your...

How do you think Aramonys misuse of his position could have been prevented? What controls and accountability would you recommend? How would you persuade the Board to be more socially responsible?

In a sales contract, if an offeree includes additional or different terms in an acceptance, will a contract result? If so, what happens to these terms?

Can someone help me Required: a . Bunk Stores has requested a quote for a special order of Bubbs. This order would not be subject to any corporate allocation ( and would not affect corporate costs )...

P-1) (100 Pts.) A chemical manufacturing company (CMC) has a contract for the procurement of the neccssaly chemicals from four suppliers. The chemicals purchased from Supplier A are priced at $20...

4. Identify the challenges facing todays organizations

2. Compare two organizations that you belong to or have regular contact with (such as a social organization, a volunteer organization, or a company). Describe the type of management approach at these...

1. LaunchPad for Real Communication offers key term videos and encourages selfassessment through adaptive quizzing. Go to bedfordstmartins.com/realcomm to get access to: LearningCurve Adaptive...