Homework Help Question & Answers

i need general journal, schedule of payables, calculation of interest, and year 2 payment The January...

i need general journal, schedule of payables, calculation of interest, and year 2 payment


The January 1. Year 1 trial balance for the Perry Company is found on the trial balance tab. The beginning balances are assum
Journal entry worksheet < 1 2 3 4 5 6 7 Apr. 20. Purchased $53,750 of merchandise on credit from Garcia, terms 130. North use
General Journal Requirement General Ledger Trial Balance Schedule of Payables Calculation of Interest Year 2 payment Here are
North Co. Calculation of interest expense August 17 - Garcia note: Principal Interest rate Number of days interest to be rec
Year 2 Jan. 27 Paid the amount due on the note to Albany Bank at the maturity date. Calculation of Interest Year 2 payment Ge


Requirement General Journal General Ledger Trial Balance Schedule of Payables Calculation of Interest Year 2 payment No input
The January 1. Year 1 trial balance for the Perry Company is found on the trial balance tab. The beginning balances are assumed. North Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 Apr. May July Aug Nov. Nov. Dec. 20 Purchased $53,750 of merchandise on credit from Garcia, terms n/30. 19 Replaced the April 2e account payable to Garcia with a 90-day, 1ex, $38,eee note payable along with paying $15,750 in cash. 8 Borrowed $90,000 cash from AKR Bank by signing a 120-day, 9%, $90,000 note payable. 17 Paid the amount due on the note to Garcia at the maturity date. 5 Paid the amount due on the note to AKR Bank at the maturity date. 28 Borrowed $45,000 cash from Albany Bank by signing a 60-day, 8%, $45,000 note payable. 31 Recorded an adjusting entry for accrued interest on the note to Albany Bank. Year 2 Jan. 27 Paid the amount due on the note to Albany Bank at the maturity date. General Journal General Ledger Schedule of Payables Requirement Trial Balance Calculation of Interest Year 2 payment int in the aluation of Interest" tab to ensure the
Journal entry worksheet < 1 2 3 4 5 6 7 Apr. 20. Purchased $53,750 of merchandise on credit from Garcia, terms 130. North uses the perpetual inventory system. Note: Enter debits before credits. Debit Credit Date Account Title Apr 20 Record entry Clear entry View general journal
General Journal Requirement General Ledger Trial Balance Schedule of Payables Calculation of Interest Year 2 payment Here are the balances in Accounts and Notes payable based on your journal entries: North Co. Schedule of Accounts Payable Total accounts payable $ 0 North Co. Schedule of Notes Payable Total notes payable $ 0 < Trial Balance Calculation of Interest >
North Co. Calculation of interest expense August 17 - Garcia note: Principal Interest rate Number of days' interest to be recorded in Year 1 Total interest expense - Year 1
Year 2 Jan. 27 Paid the amount due on the note to Albany Bank at the maturity date. Calculation of Interest Year 2 payment General Ledger Schedule of Payables Trial Balance General Journal Requirement Prepare the January 27, Year 2 journal entry to record the payment of the Albany note at maturity. Perry Company does NOT prepare reversing entries. Debit Credit Account title Date 1/27/Year 2 Your 2 payment { Calculation of Interest
Requirement General Journal General Ledger Trial Balance Schedule of Payables Calculation of Interest Year 2 payment No input required. Year 2018 represents Year 1 from the problem statement. Perry Company Trial Balance December 31, 2018 Account Title Credit $ Cash Merchandise Inventory Perry, Capital Total Debit 43,500 8.000 51.500 51 500 51500 5 < General Ledger Schedule of Payables
0 0
Add a comment
Answer #1

Credit (S) Date Accounts Title and Explanation Apr-20 Merchandise Inventory Account Payable - Garcia Debit ($) 53750 53750 53

Credit ($) Perry Company Trial Balance December 31, 2018 Account Title Debit ($) Cash 31100 Merchandise Inventory 61750 Inter

North Co. Calculation of interest expense August 17 - Garcia note Principal Interest rate Number of days interest to be reco

Credit (S) Date Accounts Title and Explanation Jan-27 Notes Payable - Albany Bank Interest Payable Interest Expense Cash Debi

Hope You Understood.

If you have any doubt please leave a comment.

Thank You

Add a comment
Know the answer?
Add Answer to:
i need general journal, schedule of payables, calculation of interest, and year 2 payment The January...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coin

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • ca Vista C GL0901-Based on Problem 9-1A LO C2, P1 The January 1,2016 trial balance for...

    ca Vista C GL0901-Based on Problem 9-1A LO C2, P1 The January 1,2016 trial balance for the Perry Company is found on the trial balance tab. The beginning balances are assumed North Co. entered into the following transactions involving short-term liabilities in 2016 and 2 2016 Apr. 20 Purchased $53,750 of merchandise on credit from Garcia, terns are a/30. North uses the pe 017. (Use 360 days a year) rpetual inventory May 19 Replaced the Apri1 20 account payable to...

  • GL901 - Based on Problem 9-1A LO C2, P1 The January 1, Year 1 trial balance...

    GL901 - Based on Problem 9-1A LO C2, P1 The January 1, Year 1 trial balance for the Carter Company is found on the trial balance tab. The beginning balances are assumed. Gonzalez Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 Apr. 20 Purchased $49,750 of merchandise on credit from Nguyen, terms n/30. May 19 Replaced the April 20 account payable to Nguyen with a 90-day, 8%, $38,000 note payable along with...

  • The January 1, Year 1 trial balance for the Carter Company is found on the trial...

    The January 1, Year 1 trial balance for the Carter Company is found on the trial balance tab. The beginning balances are assumed. Gonzalez Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 Apr. 20 Purchased $49,750 of merchandise on credit from Nguyen, terms n/30. May 19 Replaced the April 20 account payable to Nguyen with a 90-day, 8%, $38,000 note payable along with paying $11,750 in cash. July 8 Borrowed $102,000 cash...

  • GL901 - Based on Problem 9-1A LO C2, P1 The January 1, Year 1 trial balance...

    GL901 - Based on Problem 9-1A LO C2, P1 The January 1, Year 1 trial balance for the Gonzalez Company is found on the trial balance tab. The beginning balances are assumed. Wright Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1 Apr. May July Aug. Nov. 20 Purchased $42,250 of merchandise on credit from Hall, terms n/30. 19 Replaced the April 20 account payable to Hall with a 90-day, 8%, $39,000 note...

  • Help Seve The January 1 Year 1 trial balance for the Gonzalez Company is found on...

    Help Seve The January 1 Year 1 trial balance for the Gonzalez Company is found on the trial balance tab. The beginning balances are assumed. Wright Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Che Year 1 Apr. Hay July Aug 20 Purchased $42,250 of merchandise on credit from all, teras n/s. 19 Replaced the April 20 account payable to all with a day, 8%, 539,000 note payable along with paying $3,250 in cash...

  • Saved GL901 - Based on Problem 9-1A LO C2, P1 The January 1 Year 1 trial balance for the Gonzalez Company is found...

    Saved GL901 - Based on Problem 9-1A LO C2, P1 The January 1 Year 1 trial balance for the Gonzalez Company is found on the trial balance tab. The beginning balances are assumed. Wright Co. entered into the following transactions involving short-term liabilities (Use 360 days a year.) Year 1 Apr. May July Aug. Nov. Nov. Dec. 20 Purchased $42,250 of merchandise on credit from Mall, teras n/30. 19 Replaced the April 2e account payable to Hall with a 90-day,...

  • The January 1, 2016 trial balance for the North Company is found on the trial balance...

    The January 1, 2016 trial balance for the North Company is found on the trial balance tab. The beginning balances are assumed King Co. entered into the following transactions involving short-term liabilities in 2016 and 2017. (Use 360 days a year.) 2016 Apr. 20 Purchased $46,250 of merchandise on credit from Turner, terms are n/30. King uses the perpetual inventory system with paying $7,250 in cash. $117,000 May 19 Replaced the April 20 account payable to Turner with a 90-day,...

  • The January 1, Year 1 trial balance for the Gonzalez Company is found on the trial...

    The January 1, Year 1 trial balance for the Gonzalez Company is found on the trial balance tab. The beginning balances are assumec Wright Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year : Apr. May July Aug. Nov. Nov. Dec. 20 Purchased 542,250 of merchandise on credit from Hall, terms n/30. 19 Replaced the April 20 account payable to Hall with a 90-day, 85, $39,000 note payable along with paying $3,250 in cash....

  • I dont know how to do the general journal Year 1 Dec. 16 Accepted a $12,000,...

    I dont know how to do the general journal Year 1 Dec. 16 Accepted a $12,000, 60-day, 10% note in granting Jose Garcia a tine extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Garcia note. 17 Year 2 Feb. 14 Received Garcia's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $7.00, lex, 90-day note in granting a time extension on the past-due account...

  • please indicate which company on the aacount payable.... thank you in advance. GL0901 - Based on...

    please indicate which company on the aacount payable.... thank you in advance. GL0901 - Based on Problem 9-1A Tyrell Company LO C2, P1 The January 1, 2017 trial balance for the Tyrell Company is found on the trial balance tab. The beginning balances are assumed. Tyrell Co. entered into the following transactions involving short-term liabilities in 2017 and 2018. (Use 360 days a year.) 2017 Apr. 20 Purchased $47,750 of merchandise on credit from Locust, terms are n/30. Tyrell uses...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.