Question: Need help with the wrong answers (marked with X) Question 1 of 3 > 1.81 / 2 Your Arwe Correct Answer Your is partially connect

Need help with the wrong answers (marked with X)

Question 1 of 3 > 1.81 / 2 Your Arwe Correct Answer Your is partially connect CS. Sheridan Company had the following transactions involving notes payable July 1, 2022 Nov, 1.2022 Dec 31, 2022 Feb 1, 2023 Apr 1, 2023 Borrows $86,000 from First National Bank by signing a 9 months note. Borrows $89.000 from Lyon County State Bank by signing 3 month, note Prepares adjusting entries Pays principal and interest to Lyon County State Bank Pays principal and interest to First National Bank Prense Journal entries for each of the transactions. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem Date Account Titles and Explanation Debit Credit 2072 Cash BMCO Notes Payable BADOO ber 1, 2022 v Cash EWOO Notes Payable 1 2022 Interest Expense X Interest Payable (To record accrual of interest from First National Bank) ber 31, 2017 Interest Expense 890 Interest Payable (To record accrual of interest from Lyon County State 11.2023 Notes Payable 39000 Interest Payable 390 15 Interest Expense 325 BO Notes Payable Interest Payable Interest X X e Textbook and Media Solution

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!

Please help me. My notes from class did not prepare me for this, and my assumptions are wrong. Question 1 of 5 Show Attempt History Current Attempt in Progress Sheridan Company uses a job order cost...

MNG3702/101/3/2016 Tutorial Letter 101/3/2016 Strategy Implementation and Control MNG3702 Semesters 1 and 2 Department of Business Management PLEASE NOTE: This tutorial letter contains important...

Please help answer this question this is what I have so far, part of it is incorrect (Marked RED). This question has been posted twice both times receiving partially incorrect answers. I still don't...

Please help to solve this question, part c. My mistakes are marked IN RED (as you can see from the provided screenshot). I have to fill lines(boxes) in CPV income statement that are requested in...

1 2.3 Definition of a Discrete Probability Function Definition: Let S be a discrete sample space from some experiment. A function P, defined on all events in S, is said to be a probability function...

I need help with the answers marked in red. I dont understand how to get the answer or what I am doing wrong... thank you! Problem 4-1A Applying the accounting cycle LO C2, P2, P3 On April 1, Jiro...

I need help with part B. I already asked this question on here and they answered it incorrectly. Thank you Problem 9-2A (Part Level Submission) in the accounting department, different accountant...

i need help in double dminishing balance the red boxes are incorrect Sheridan Productions Corp. purchased equipment on March 1, 2021, for $64,000. The company estimated the equipment would have a...

Help with the wrong answers in red, thank you. Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations...

Need help fixing my wrong answers Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter...

Refer to Example 2. Determine if a plan to use subcontracting at a maximum rate of 50 units per period as needed with no overtime would achieve a lower total cost than the plan shown in Example 2....

Please provide a summary and analysis of the article: Essays on States Tax Policy: Rethinking States Corporate Income Taxation.

14. LO.4 What types of expenditures might a new partnership incur? How are those costs treated for Federal tax purposes? Create a chart describing the expenditure, the treatment, and the Code section...

QUESTION 10.6 (Commissioner '5 powers of access) Small Business Pty Limited, a firm of investment advisors, received a phone call indicating that the ATE: had commenced audit activity and would be...

Be able to provide a brief history of the development of state and local civil service systems

Understand the purpose of the civil service system job classification

Explain why position classification and compensation are very important and controversial parts of public administration organizations governed by civil service