Question: On September 1 , 2 0 2 4 , Allied Moving Corporation borrows $ 9 0 , 0 0 0 cash from First National Bank.

On September 1,2024, Allied Moving Corporation borrows $90,000 cash from First National Bank. Allied signs a six-month, 6% note payable. Interest is payable at maturity. Allled"s year-end is December 31.
Required:
1.,2. & 3. Record the following transactions for the note payable by Allled Moving Corporation. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to nearest dollar amount.)
Journal entry worksheet
123
Record the issuance of notes payable.
Note: Enter debits before credits.
\table[[Deptember 01,2024,General Joumal,Debit,Credit],[,,,],[,,,],[,,,]]
On September 1,2024, Allied Moving Corporation borrows $90,000 cash from First

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!

Q:

Massa Company provides marketing consulting services worldwide for dot-com companies. At the start of 2022, Massa's T-account balances were as follows: Cash 12,800 Accounts Receivable 32,000 LT...

Q:

On February 1, 2015, Allied Moving Corp. borrows $100,000 cash from a bank. Allied signs a 6-month, 6% note payable. Interest is payable at maturity. Allied's year-end is December 31, 2015 Problem #4...

Q:

On September 1 , 2 0 2 4 , Allied Moving Corporation borrows $ 1 2 0 , 0 0 0 cash from First National Bank. Allied signs a six - month, 5 % note payable. Interest is payable at maturity. Allied's...

Q:

On September 1 , 2 0 2 4 , Allied Moving Corporation borrows $ 1 0 0 , 0 0 0 cash from First National Bank. Allied signs a six - month, 5 % note payable. Interest is payable at maturity. Allied's...

Q:

On September 1 , 2 0 2 4 , Allied Moving Corporation borrows $ 8 0 , 0 0 0 cash from First National Bank. Allied signs a six - month, 5 % note payable. Interest is payable at maturity. Allied's year...

Q:

Section A (40 Marks) 1. Internal users of accounting information include all of the following except, A. company officers. B. investors. C. marketing managers. D. production supervisors. 2. Which of...

Q:

Question 20 4 pts On Septembe 1.2021. Allied Moving Corp. borrows $100.000 cash from First National Bank. Allied signs a six-month, 6% note payable Interest is payable at maturity. Allied's year-end...

Q:

On September 1 , 2 0 2 1 , Allied Moving Corp. borrows $ 1 1 0 , 0 0 0 cash from First National Bank. Allied signs a six - month, 5 % note payable. Interest is payable at maturity. Allied's year -...

Q:

John and Lucy Miegel (dates of birth: December 18, 1971 and September 14, 1971, respectively) are married with three children: Jason, MaryJane and Sally (dates of birth: July 22, 2000, June 6, 2002...

Q:

Please Complete Multiple Choice and True or False Questions 1.) Omega Company pays its employees twice a month, on the 7th and the 21st. On June 21, Omega Company paid employee salaries of $4,000....

Q:

ACC4301 - INDIVIDUAL INCOME TAXATION Individual Income Tax Preparation Project Spring Semester 2017 FACTS John Alan Kelly and Rosalyn Elaine Kelly, a married couple, live at 3822 Robin Lane Houston,...

Q:

The refrigerator has a weight of 180 lb and rests on a tile floor for which ? s = 0.25. If the man pushes horizontally on the refrigerator in the direction shown, determine the smallest magnitude of...

Q:

1. Suppose a demand function can be specified as QW= 400-3p, evaluate the point elasticity of demand when the price is $10. As a manager, will you increase the price? Why? (b) Imagine that your...

Q:

Es la cantidad de efectivo que la empresa debe mantener disponible para cubrir imprevistos que se den por el desequilibrio entre las entradas y salidas de efectivo planeadas y es: capital contable,...

Q:

In light of the successful turnaround do you think the federal bailout of GM was warranted What are the pros and cons after the fact Which factors that were pivotal to the sales rebound at GM were...

Q:

Zoe Garcia is the manager of a small office support business that supplies copying, binding, and other services for local companies. Zoe must replace a worn-out copy machine that is used for black...

Q:

Analyzing the Effects of Transactions Using T-Accounts, Preparing an Income Statement, and Evaluating the Net Profit Margin Ratio LO3-4, 3-5, 3-6 [The following information applies to the questions...

Q:

Canvas Corp. is a large construction company that reports under IFRS. They have recently signed a contract with Ontario Tech University to build an addition to the library. Canvas began work on the...

Q:

Darby Sporting Goods Inc. has been experiencing growth in the demand for its products over the last several years. The last two Olympic Games greatly increased the popularity of basketball around the...

Q:

Visit the Newsroom at www.eeoc.gov. Review a recent press release which involves a harassment and / or discrimination claim. You should summarize the facts of the case, including the parties involved...

Q:

Realize that even in a small- or medium-sized business, age-friendly and inclusive human resource management practices can be adopted.

Q:

In the coming years, On Cheongs loyal and mature employees will grow older and some might choose to retire. Six employees are already over 70, and 15 are over the age of

Q:

It also seems likely that the next generation of employees may not stay with On Cheong for decades, or for life. How might this affect or change On Cheongs culture, which has emphasized warm,...