Notes payable

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• Journal entry for conversion of accounts to notes payable

  the notes payable.

• Journal Entries

  The journal entry to record the conversion of a $250 accounts payable to a notes payable would be: Jan 31 Cash 250 Notes Payable 250 Jan 31 Notes Receivable 250 Notes Payable 250 Jan 31 Notes Payable 250

• Multiple choice -current assets and current liabililities

  Notes Payable Interest Payable Cash b. Notes Payable Interest Expense Cash c. Notes Payable Cash d. Notes Payable Cash Interest Payable Answer: a. Notes Payable Interest Payable Cash 67.

• Journal entries for Detroit Company

  NOTES PAYABLE A/C 24000 INTEREST PAYABLE A/C 600 CASH 24600 DEC1 8.CASH 10000 TO NOTES PAYABLE 10000 Dec

• Journal Entries, Adjusting Entries and Note Balance

  on Notes Payable 4,000 the maturity value would be taken as discount on notes payable Notes Payable 54,000 (b) Dec. 31 Interest Expense 1,000 Interest Payable 1,000 ($50,000 X 8% X 3/12) Dec. 31 Interest

• Accounting Study Guide: current liabilities, current assets, debt, balance sheet, liquidity, accrued liability, and more...

  Notes Payable 51,000 Cash 51,000 b. Notes Payable 50,000 Interest Payable 1,000 Cash 51,000 c. Notes Payable 50,000 Interest Payable 4,000 Cash 54,000 d. Notes Payable 50,000 Interest Expense 1,000 Cash 51,000 65.

• Journalize and Post Note Transactions

  11000 Notes payable 30000 Cash paid and Note issued to Seguin Equipment 30-Sep Interest 750 Interest payable 750 Interest due on note recorded 1-Oct Notes payable 30000 Interest payable 750 Cash 30750 Face value and interest

• Notes Payable, Wages Payable and Journal Entries for State Mill Company

  Notes Payable and Wages Payable P2.

• As interest is recorded on an interest-bearing note

  decreased; the Interest Payable account is increased increased; the Interest Payable account is increased increased; the Notes Payable account is decreased increased; the Notes Payable account is increased 6.