I have a hw question for my accounting class. Any help would be appreciated! bAs
ID: 2527252 • Letter: I
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I have a hw question for my accounting class. Any help would be appreciated!
bAssignmentA (15 pts) COezto.mheducation.comyhm.tpx?-04390533928/3944/4 1524288854313 (6th): 2018SP ACCT 2301-23001 Assignment 9A (15 pts instructions help Question 4 (of S) E Save&ESubrit; 5.30 points Exercise 9-3 Accounting for note payable LO P1 Sylvestor Systems borrows $176,000 cash on May 15, 2015·by signing d 120-day 6% note 1. On what date does this note mature? September 11, 2015 O September 12, 201 Soptomber 13, 2015 September 14. 2015 September 15, 2015 2. Assume the face value of the note equals $176,000, the principel of the loan a) Prepare the joumal entry to record ssuance ct the note View transaction list View journal entry worksheet No Date General Journal Debit Credit May 15Cash 176,000 Notes payabk 176,000 1234 AM O Type here to search w?Explanation / Answer
Days May (30-15)= 15 june 30 july 31 august 31 107 september 13 total 120 Days 1) September 13,2015 2) Date General Journal Debit Credit 15-May Cash 176,000 Notes payable 176,000 b) principal 176,000 Rate(%) 6% time 120/360 total interest 3520 Event General Journal Debit Credit Notes payable 176,000 interest expense 3520 Cash 179,520
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