User Account

All Pages

Prepare the October journal entries for Sweet

Assignment Help Accounting Basics
Reference no: EM132616389

Question - On October 1, 2020, Sweet, Inc. assigns $1,226,300 of its accounts receivable to Pharoah National Bank as collateral for a $704,000 note. The bank assesses a finance charge of 3% of the receivables assigned and interest on the note of 8%.

Required - Prepare the October 1 journal entries for both Sweet and Pharoah.

Reference no: EM132616389

Questions Cloud

Make the journal entries to record the events : Prepare the journal entries to record the events. The redemption of the bonds at maturity, assuming interest for the last interest period
Calculate the npv of new product launch : You are considering a new product launch. The project will cost $680,000, have a four-year life, and have no salvage value; depreciation is straight-line to zer
Prepare a manufacturing proposal to produce a component : Prepare a manufacturing proposal to produce a component of the Deakin Ascend World Solar Challenge Car. Students should apply the knowledge they have gained
What services are provided by ipsec : Give examples of applications of IPsec. What services are provided by IPsec?
Prepare the October journal entries for Sweet : The bank assesses a finance charge of 3% of the receivables assigned and interest on the note of 8%. Prepare the October journal entries for Sweet
Correlation between and among assets and diversification : (a) If two assets' returns are positively correlated, what is the covariance between the returns of these two assets?
How do find the internal rate of return of the project : How do Find the Internal Rate of Return of the project at rate 10% and 15%. The following information relates to machine A and B
Adobe campaign standard vs classic : Adobe campaign standard vs classic (Define both, features, differences, benefits) What is javascript and why is it important
Why is the concept of the time value of money : The Brown Ltd produces a range of central heating systems for sale to builders' merchants. As a result of increasing demand for the business's products

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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