Question: two question Current Attempt in Progress Bonita Enterprises had the following transactions livolving notes payable (amounts in thousands). Prepare journal entries for each of the



Current Attempt in Progress Bonita Enterprises had the following transactions livolving notes payable (amounts in thousands). Prepare journal entries for each of the transactions. (Credit account titlet ere gufomatically indented when amount is entered, Do not indent manuolly Record joumal entries in the order presented in the problom if no entry is requiled select "No Entry" for the occount tites and enter 0 for theamounts) Question 1 of 5 110 (To record adjusting entry for First Taiwan Bank note.) (To record adfusting entry for Nantou City Bankonote) On June 1, Sunland Company borrows $141,000 from First Bank on a 6 -month, $141,000,8% note. Prepare the entry on June 1. (Credit account titles are automaticolly indented when arnount is entered, Do not indent manuolyx if no entry is required, select "No Entry" for the account titles and enter O for the amounts) Prepare the adjusting entry on Jane 30. (Credit occount titles are outamotically indented wher amount is entered, Do not indent manually if no entry is required, select "No Entry" for the account titles and enter 0 for the amounte) Prepare the entry at maturity (December 1). assuming monthly adjusting entries have been made through November 30 . (Chedit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) What was the total financing cost (interest expensel? Total financing cost
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
