Prepare the entry to record repayment of the note on april

Assignment Help Financial Accounting

Reference no: EM13938211

INTEREST-BEARING NOTE

Bordewick Company borrowed $120,000 on a seven-month, 9 percent, interest-bearing note on October 1, 2009. Bordewick ends its fiscal year on December 31. The note was paid with interest on April 30, 2010.

Required:

1. Prepare the entry for this note on October 1, 2009.

2. Prepare the adjusting entry for this note on December 31, 2009.

3. Indicate how the note and the accrued interest would appear on the balance sheet at December 31, 2009.

4. Prepare the entry to record the repayment of the note on April 30, 2010.

Reference no: EM13938211

Questions Cloud

Prompt the user to enter the total capacity of the cage. : Determine when the farmer will have to separate the bunnies in order to prevent the birth of any more.

Why is hydrogen is place in group one not seven : Why is hydrogen is place in group one not seven

Contemporary events-discuss in relation to the major themes : Is security in the 21st century about great power rivalry or about problems of disorder and the failure of governance? Choose one of the following contemporary events and discuss in relation to the major themes and theories that we have covered in ..

Porters three generic strategies : What are Porter's three generic strategies and how can a company add value by using Porter's chain analysis

Prepare the entry to record repayment of the note on april : Indicate how the note and the accrued interest would appear on the balance sheet at December 31, 2009. Prepare the entry to record the repayment of the note on April 30, 2010.

Selection of the most appropriate procurement : The selection of the most appropriate procurement route is important to the successful implementation of a construction project. a) Name and briefly explain the main procurement methods used in the construction industry.

Categories of management theory pertinent to the case : Categories of management theory pertinent to the case. This list should be used as the analytical presentation in the Discussion Section.

Maintaining a functioning international system : How effective has the United Nations been in maintaining a functioning international system since its creation? The word count should include all notes and references

Prepare the adjusting entry recorded on december : Prepare the adjusting entry recorded on December 31, 2010. Prepare the entry recorded on February 1, 2011. Prepare the entry recorded on August 31, 2011.

User Account

All Pages