A note was issued in the amount of P500,000 for a loan from BPI
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Q: Give the journal entry for paying off the notes (RM3,000) and accrued interest (RM200).
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Make it into a journal entry:
A note was issued in the amount of P500,000 for a loan from BPI.
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- Give the journal entry for paying off the notes (RM3,000) and accrued interest (RM200).6. A cheque for RO 2,000 is presented in the clearing on the 20-01-2020 for payment when the balance in the account is RO 550. The customer has a fixed deposit account with a bank for a sum of RO 1500.what will be the journel entry to record the issue of note of $30,000 to a creditor wo has agreed to pay the amount on the specified terms as per the note agreement
- Cullumber Inc. assigns $4728000 of its accounts receivables as collateral for a $3.30 million loan with a bank. The bank assesses a 3% finance charge on the loan amount and charges interest on the note at 6%. What would be the journal entry to record this transaction? O Debit Cash for $3201000, debit Interest Expense for $99000, and credit Accounts Receivable for $3300000 O Debit Cash for $3003000, debit Interest Expense for $297000, and credit Notes Payable for $3300000 O Debit Cash for $1890800, debit Interest Expense for $99000, debit Due from Bank for $1428000, and credit Accounts Receivable for $4728000 O Debit Cash for $3201000, debit Interest Expense for $99000, and credit Notes Payable for $3300000A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as RM906. This item would be included in the bank reconciliation as a/an _____?What journal entry should be made to reflect the issuance of a $3,000 note to a creditor who has committed to pay the amount according to the note agreement's terms?
- Prepare a balance sheet, assuming that the current portion of the note payable is $7,000Fill out the bank deposit slip given the following details:A P5,000 check received is written on the deposit slip.1. Date of Deposit - August 20, 20X52. Type of Deposit - Checking3. Currency - Peso4. Account Name - ABC Company5. Account Number - 003976. Drawee Bank - BPI7. Check Number - 012768. Amount - P50009. Total Deposit - P5000The accompanying table, Data table Date Deposit (Withdrawal) Date Deposit (Withdrawal) 1/1/20 $8,000 1/1/22 $3,272 1/1/21 $(6,540) 1/1/23 $5,255 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) , shows a series of transactions in a savings account. The account pays 5% simple interest, and the account owner withdraws interest as soon as it is paid. Calculate the following: a. The account balance at the end of each year. (Assume that the account balance at December 31, 2019, is zero.) b. The interest earned each year. c. The true rate of interest that the investor earns in this account. Question content area bottom Part 1 a. The account balance at the end of 2020 is $8,0008,000. (Round to the nearest dollar.) Part 2 The account balance at the end of 2021 is $1,9531,953. (Round to the nearest dollar.)
- Repaid a debt of $120 owing to R. Hill. taking advantage of a 10% discount. The debt was paid by a cheque. Record this transaction in the cash bokkPlease tell me what the how this would be recorded in a journal entry: accounts/and amount. Record the interest of $400 on a note receivable that was earned at year-end, although collection of the interest is not due until the following year.Using this same information, to make a journal entry for the date of January 1, 2023 for collection of the interest and the bank loan, is the following correct? Jan 1, 2023 Interest receivable $3885 (debit) Bank loan recievable $3700 (debit) Cash $40885 (credit)
