Maurice Tutor

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 2 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 25 Sep 2017 My Price 9.00

Media Ads Co

PR 9-4B Details of notes receivable and related entries

Media Ads Co. produces advertising videos. During the last six months of the current fiscal year, Media Ads Co. received the following notes:

 

Date

Face Amount

Term

Interest Rate

1

Apr. 3

$15,000

60 days

4%

2

19-May

57,600

45 days

6

3

Aug. 7

50,000

90 days

5

4

Sept. 4

20,000

90 days

6

5

Nov. 21

27,000

60 days

8

6

Dec. 16

21,600

60 days

6

Instructions

1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number.

2. Journalize the entry to record the dishonor of Note (3) on its due date.

3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31.

4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February.

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 11:09 PM My Price 9.00

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