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On September 1, 2015, Ensign Inc. borrowed $21,000 from Emerald City National Bank by issuing a 12-month note. The bank discounted the note at 7.5%.
REQUIRED:
1. Prepare the journal entry needed to record the issuance of the note.
2. Prepare the journal entry needed at December 31, 2015, to accrue interest.
3. Prepare the journal entry to record the payment of the note on September 1, 2016.
4. What effective rate of interest did Ensign pay?
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Some financial instruments can have both debt and equity features. The most common example is convertible debt— bonds or notes convertible by the investor into common stock.
Show Conclusions you draw on face of financial Statements - Cash flow statement analysis is a very important part of analyzing a company's overall financial health.
MPA701 - Provide your opinion on whether CSR/sustainability reporting should be voluntary or mandatory. You must justify your opinion and provide at least two points for each side of the argument
Journalize the withdrawal of Posada under each of the following assumptions. If Lamar's ownership interest is 20% of total partnership capital, what were Terrell's cash investment and the bonus to the new partner?
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Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures..
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