Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 3.00

LeMay-Finn

Accounting for a long-term note payable

On January 1, 2014, LeMay-Finn signed a $200,000, five-year, 6% note. The loan required LeMay-Finn to make payments on December 31 of $40,000 principal plus interest.

Requirements

1. Journalize the issuance of the note on January 1, 2014.

2. Journalize the reclassification of the current portion of the note payable.

3. Journalize the first note payment on December 31, 2014.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 11:09 PM My Price 3.00

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