Business, 19.07.2020 14:01 dheydar9556

On June 1, Carla Vista Co. Ltd. borrows $108,000 from Acme Bank on a 6-month, $108,000, 4% note. The note matures on December 1. 1. Prepare the entry on June 1.
2. Prepare the adjusting entry on June 30.
3. Prepare the entry at maturity (December 10)
4. What was the total fancing (interest expence)?

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Answer from: hellp138

a) Journal entry

Date Account and explanation Debit Credit

June 1 Cash $108,000

Notes payable $108,000

b) Adjusting entry

Date Account and explanation Debit Credit

June 30 Interest expense $360

(108,000*4%*1/12)

Interest payable $360

c) Journal entry

Date Account and explanation Debit Credit

Dec 10 Notes payable $108,000

Interest payable (360*6) $2,160

Cash $110,160

d) Total (interest expenses)

Interest payable = $360 * 6

= $2160

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

Answer from: Quest

answer; only identify and interpret trends in the marketplace;

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On June 1, Carla Vista Co. Ltd. borrows $108,000 from Acme Bank on a 6-month, $108,000, 4% note. The...

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