User Account

All Pages

Journalize the entry at maturity date to record the receipt

Assignment Help Accounting Basics
Reference no: EM132787867

Problem 1: Hollie Star Company received a 90-day, 6% note for P80,000, dated March 12 from a customer on account. Journalize the entry at maturity date to record the receipt of the payment of the note.

A. JUNE 12 /DR CASH 81,200/CR NOTES RECEIVABLE 80,000; INTEREST REVENUE 1,200
B.JUNE 10/ DR CASH 81,200 / CR NOTES RECEIVABLE 80,000; INTEREST REVENUE 1, 200
C. JUNE 12/ DR CASH 81,200 / CR NOTES RECEIVABLE 81,200
D.JUNE 10 / DR CASH 81,200 / CR NOTES RECEIVABLE 81,200

Reference no: EM132787867

Questions Cloud

What journal entry do make to record the stock split : What journal entry do you make to record the stock split. A corporation, which had 15,000 shares of common stock outstanding, declared a 3-for-l stock split.
Describe two factors that can impact on a project scope : Identify and describe two documents that can be used to initiate projects - Describe two factors that can impact on a project scope
What journal entry do make to record the stock split : What journal entry do you make to record the stock split. A corporation, which had 15,000 shares of common stock outstanding, declared a 3-for-l stock split.
How would common stock appear on a common size : Given the following data for the Pina Colada Corp.: How would common stock appear on a common size balance sheet
Journalize the entry at maturity date to record the receipt : 6% note for P80,000, dated March 12 from a customer on account. Journalize the entry at maturity date to record the receipt of the payment of the note.
Write a short account of your findings : Write a short (2 pages double spaced) account of your findings and illustrate this account with the two map clips, one historical, one contemporary.
What is the profitability index of the two projects : The present value (PV) of after-tax cash inflows for project A is $55,000, What is the profitability index of the two projects
Why do believe may be the most effective competitive : Why do you believe this may be the most effective competitive move for firms today? Be sure to support your assertion with real world examples.
How napoleon both continued and broke from the aims : Evaluate how Napoleon both continued and broke from the aims of his revolutionary predecessors. 750-word, use MLA format for any quotations or citations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Operate with a differential input voltage

It is required to design an NMOS differential amplifier to operate with a differential input voltage that  can be as high as 0.1 V while keeping the nonlinear term under the square root in Eq. (9.23) to a maximum of 0.04.

  Determine the book value per share of the common stock

The stockholders' equity section of Axel Company's balance sheet follows. The preferred stock's call price is $30. Determine the book value per share.

  Explain what it does in your own words

Explain what it does in your own words?

  Create a classified balance sheet in good form

create a classified balance sheet in good form for the year ended 2012

  Budgeted costs at anticipated production level

ABC has the following budgeted costs at its anticipated production level (expressed in hours):

  Define generally accepted auditing standards

Define generally accepted auditing standards (GAAS). Who is responsible for developing standards for the audits of public entities?

  What was the straight line interest expense on the december

What was the straight-line interest expense on the December 31 annual income statement?

  Why is it important to put the appropriate date

Why is it important to put the appropriate date or time period on a financial statement?

  Expectations of the public accounting profession

How does the auditing profession work to create or communicate a reasonable set of expectations that users should hold? To what extent do you believe that user expectations of the public accounting profession appear to you to be unwarranted? Explain..

  What are the ethics in accounting

What is the ethical dilemma you face? What are the ethical considerations? Consider your options and responsibilities as assistant controller.

  What was the amount of retained earnings on december

Cash dividends of $1,500 were paid on December 15, 2010. What was the amount of Retained Earnings on December 31, 2010

  What amount of overhead was applied to production

Langston Automotive Accessories applies overhead using a combined rate for fixed and variable overhead. What amount of overhead was applied to production

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd