Question: Part A -Assuming a 4 month, $200,000 , 7% loan, that began on 10/1/19, Calculate interest for 2019, 2020, and total interest. Show calculations, not

Part A-Assuming a 4 month, $200,000 , 7% loan, that began on 10/1/19,

Calculate interest for 2019, 2020, and total interest. Show calculations, not just answers

Make journal entries for 10/1/19, 12/31/19 and 2/1/20

Part B-Assuming a 3 year , $200,000 , 7% loan, that began on 10/1/19,

Calculate interest for 2019, 2020, 2021 and total interest. Show calculations, not just your answers.

Make journal entries for 10/1/19, 12/31/19, 12/31/20, 12/31/21 and 9/1/22

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:

can you please help me solve this assignment quesions? ASSIGNMENT BAcc 2016 LETTER SEMESTER (2) [FINANCIAL ACCOUNTING 3B] [AFE3872] DUE DATES Assignment 1 Assignment 2 Assignments Resubmissions...

Q:

I need your help with some accounting questions. Please see attachment! Question 1 Denver Hair Stylist's adjusted trial balance and income statement follow. Prepare Denver's statement of owner's...

Q:

Old MathJax webview Can someone please assist? I need to prepare the post-adjustment trial balance with calculations. It is not incomplete. Please ignore the blank space in between the questions....

Q:

MGSC 1206 Introduction to Quantitative Methods II Fall 2020 Assignment #4 This assignment focuses on material from the end of Chapter 7 and the beginning of Chapter 9. In Chapter 8, various models...

Q:

Put a copy of all your journal entries for 2019 here on this tab. You are not making ANY prior year entries. Any prior year information is just that--information. JKL, Inc. presents the preliminary...

Q:

Put a copy of all your journal entries for 2019 here on this tab. You are not making ANY prior year entries. Any prior year information is just that--information. JKL, Inc. presents the preliminary...

Q:

how do you solve step 2, 3 and 4. Question Aart of this course involves being able to visualize and complete the accounting cycle. This ist question challenges you in this regard. You may need to...

Q:

Accounting Cycle Monopoly: record each of your rolls (turns) as a journal entry transaction. Prepare a complete set of financial statements. You need to know, or find out, which financial statements...

Q:

Accounting Cycle Monopoly: record each of your rolls (turns) as a journal entry transaction. Prepare a complete set of financial statements. You need to know, or find out, which financial statements...

Q:

On July 1, 2015, ABC Co. issued 10-year, $4,574 million maturity value, 3% coupon bonds when the market rate was 2% for a cash price of $4,994 million. Interest was payable semi-annually on Dec. 31...

Q:

Some experts argue that object-oriented techniques are simpler for novices to understand and use than are DFDs and ERDs. Do you agree? Why or why not?

Q:

Let y = final exam score and x = midterm exam score. Suppose that the correlation is 0.70 and that the standard deviation is the same for each set of scores. a. Using part b of the previous exercise...

Q:

3. Which directive stops all further expansion of a macro?

Q:

give rationale why mann whitney test best statistical test for this case : Do significant differences exist between husbands and wives regarding holiday depression? There is an ordinal measure of...

Q:

3. Design a checklist for carrying out a safety inspection in the workplace. Use your checklist to actually carry out an inspection of a designated area either at work or in your college. Write a...

Q:

explain the terms used for companies which operate on an international basis such as international, multinational and global enterprise

Q:

5. Imagine that you are a consultant employed to select a job evaluation scheme for an organisation that employs 500 employees in a large range of clerical jobs. Write a report to the human resource...