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Question - What is a journal entry for the following transactions please be fast The following transactions occur in April and May 2014:
April 1 After much thought, Natalie sells a mixer to Curtis for $1,050 (the cost of the mixer was $553). Curtis signs a two-month, 5% promissory note. Curtis can repay the note at anytime before the due date, with interest accruing to the date of payment.
April 30 Curtis calls Natalie. He expects to pay the amount outstanding in the next week or so.
May 15 Natalie receives a cheque from Curtis in payment of his balance owing plus interest that has accrued.
Prepare the journal entry to record the sale on January 1, 2009. Determine how much interest Frenchie will receive if the note is repaid on December 31, 2009.
Depreciated on a straight-line basis to a zero book value over a 18-year life of the project. If the tax rate is 20%, what is the operating cash flow?
Describe the basic analysis and the debit credit analysis. Approach your discussion as if you are speaking with your younger sibling, niece
Gina transfers equipment worth $20,000 (adjusted basis is $16,000) and $20,000 of services for 40 shares. Gina's tax consequences are
On April 1, 20X1, Collings Corporation purchased $100,000 of 7%, 5-year bonds dated April 1, 20X1, at 101. Interest is paid on March 31 and September 30. Assuming use of the straight-line amortization method, the proper amount of income to record on ..
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