May 19 replaced the april 20 account payable to frier with

Reference no: EM13601605

Tytus Co. entered into the following transactions involving short-term liabilities in 2010 and 2011.
2010
Apr. 20 Purchased $38,500 of merchandise on credit from Frier, terms are 1/10, n/30. Tytus uses the perpetual inventory system.
May 19 Replaced the April 20 account payable to Frier with a 90-day, $30,000 note bearing 9% annual interest along with paying $8,500 in cash.

July 8 Borrowed $60,000 cash from Community Bank by signing a 120-day, 10% interest-bearing note with a face value of $60,000.
__?__ Paid the amount due on the note to Frier at the maturity date.
__?__ Paid the amount due on the note to Community Bank at the maturity date.

Nov. 28 Borrowed $21,000 cash from UMB Bank by signing a 60-day, 8% interest-bearing note with a face value of $21,000.
Dec. 31 Recorded an adjusting entry for accrued interest on the note to UMB Bank.
2011
__?__ Paid the amount due on the note to UMB Bank at the maturity date.

Determine the interest expense to be recorded in 2011.

Reference no: EM13601605

Questions Cloud

The company will continue to incur the total amount of its : harper company manufactures one product that is sold for 80 per unit in two geographic regions-the east and west

Jim and mary jean are married and have two dependent : jim and mary jean are married and have two dependent children under the age of 13. both parents are gainfully employed

Acocunting question purchased merchandise on account list : acocunting question purchased merchandise on account list price is 30000 trade discount 40 fob destination 210 n30.the

If 615 l of oxygen at 18c and an absolute pressure of 245 : question if 61.5 l of oxygen at 18c and an absolute pressure of 2.45 atm are compressed to 48.8l and at the same time

May 19 replaced the april 20 account payable to frier with : tytus co. entered into the following transactions involving short-term liabilities in 2010 and 2011. 2010 apr. 20

How do i create a balance sheet with this informationtwo : how do i create a balance sheet with this information?two semi-retired physicians contributed a total of 65000 in cash

A team of two people to be selected out of 5 men and 5 : a team of two people to be selected out of 5 men and 5 women. a random variable x is defined to be the number of men

Calculate a the partial pressure of nitrogen and b the mole : suppose that we have a mixture of n2 g and o2 g of unknown composition whose total pressure is 385 torr. if all the

Assume that the company uses absorption costing compute the : shastri bicycle of bombay india produces an inexpensive yet rugged bicycle for use on the citys crowded streets that it

User Account

All Pages