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NOTES RECIEVABLE
On November 1, 2014, Company N accepted a $10,000, 4 percent, 90 day note from a customer for $10,000 in sales. Interest is payable to Company N at retirement on January 1, 2015. Prepare the journal entries for the following activity on the books of Company N:
A. Acceptance of the note and recognition of sale on 11/1/14
B. Adjusting journal entry at 12/31/14 (use months for calculation).
C. Journal entry for receipt of payment from the customer to pay off the note and related interest on January 31, 2015. For this payment, note whether you are assuming that Company N did or did not, prepare reversing journal entries at the beginning of 2015.
Prepare the journal entries for Latest Fashions for the transactions listed, assuming that Latest Fashions uses a perpetual inventory system and prepare a mutli-step income statement
Does the new data reflect an increase in aggregate supply or does it indicate a decrease in aggregate supply?
Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2012, for Mazor Company, using the indirect method.
findingnbsp the equivalent units for materials and conversion.bell computers ltd. located in liverpool england
Jobs, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone. The cost structure to manufacture 20,000 Tri-Robos is as follows.
Explain how many units of each product should Jeepster make in order to maximize profits?
The trial balance is out of balance and the accountant suspects that a transposition or slide error has occurred. What will the accountant do to find the error?
Prepare Northern Bell's consolidated financial statements for December 31, 20X9, assuming that Golden Bell's functional currency is a) the Canadian dollar, and b) the foreign currency unit.
In return for these transfers, Tara receives all of stock in Black Corporation. Which is correct?
Briefly describe when petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain.
explain the reason for any two of the seven internal control procedures and (2) provide examples of how your two selected internal control procedures will meet the goal of safeguarding assets and promoting ethical business practices.
How long will it take your initial $108,000 investment to reach the desired level at First Bank, which pays simple interest?
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