Journalize the transactions. Assume a 360 day year for all transactions related to interest calculations. April 15
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Journalize the transactions. Assume a 360 day year for all transactions related to interest calculations.
April 15 The $100,000 balance in notes payable is related to a 45-day 6% note issued on March 1. Paid the interest due and refinanced the principle with a new 60 day note at 7%.
April 20 Sold a $750,000 5 year bond, semi-annual interest at 6% when market is 8%
April 30 The cash sales for the month, according to the cash register records, totaled $27,525, including sales tax of $2,525. The actual cash received from cash sales was $27,625. Cost of goods sold related to these sales was $13,360.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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