Prepare the october 1 journal entries

Assignment Help Accounting Basics

Reference no: EM133542206

Question: On October 1, 2023, Splish Brothers Inc assigns $3.1 million of its accounts receivable to Alberta Provincial Bank as collateral for a $2.8-million Id evidenced by a note. The bank's charges are as follows: a finance charge of 3.9% of the assigned receivables and an interest charge of 10% on the loan. Prepare the October 1 journal entries for both Splish Brothers Inc. and Alberta Provincial Bank. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries)

Reference no: EM133542206

Questions Cloud

Calculate the break-even for his food truck business : Meals will be priced at $10. Calculate the break-even for his food truck business. After reviewing the break-even, what changes would you suggest?

Reflect all income earned on his maryland return : Reflect all income earned on his Maryland return. Take a credit for all taxes paid to New York on his Maryland return c) File a part-year resident return with

What does this sentence structure reveal about the narrator : There are several compound-complex sentences toward the end of "Accident" by Dave eggers what does this sentence structure reveal about the narrator?

What do you think are the major causes of world war two : After going through your Learn items for this module, what do you think are the major causes of World War Two? Make sure that you are citing your supporting

Prepare the october 1 journal entries : Prepare the October 1 journal entries for both Splish Brothers Inc. and Alberta Provincial Bank. (Credit account titles are automatically Indented when

What does the body shop need to consider : What does The Body Shop need to consider in order to increase its customer base, build brand awareness, and overcome the challenges?

Explain how it felt to create multiple patient demographics : explain how it felt to create multiple patient demographics all at once. Was it difficult? Why or why not? What could have been done differently to speed up

Border between historical record and revisionist history : Multiple narrators/points of view that blur the border between "history"/historical record and revisionist history or "ideological subtexts" (Jameson).

How much did ardvard pay for insurance during x1 : Ardvark's prepaid insurance account reported balances of $12,000 and $7,000 on January 1 and December 31, respectively. How much did Ardvard pay for insurance

User Account

All Pages