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[DOC File]ANSWERS TO QUESTIONS
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A current liability for accrued interest of $4,000 ($600,000 X 8% X 1/2) should be reported. Also, the $600,000 note payable should be a current liability if payable in one year. Otherwise, the $600,000 note payable would be a long-term liability.
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[DOC File]ANSWERS TO QUESTIONS
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December 31 Interest Receivable 10,000 Interest Revenue 10,000 (To record accrued interest revenue on loan) Accrued expenses result from the same causes as accrued revenues. In fact, an accrued expense on the books of one company is an accrued revenue to another company. ... Cash purchases (89,250) Rent paid (6,000) Salaries paid (9,600) Other ...
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[DOCX File]USSGL Part 2 Section I: Chart of Accounts 2020
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Accrued Interest Payable - Not Otherwise Classified. Credit. 214100. Accrued Interest Payable - Loans. Credit. ... Downward Adjustments of Prior-Year Paid Delivered Orders - Obligations, Refunds Collected. Debit. ... Purchases of Property, Plant, and Equipment. Debit. 880300. Purchases of Inventory and Related Property. Debit.
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[DOCX File]Brainly
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29. Your parents’ original purchase price was $1,550.00 plus 7.25% sales tax. They enter into an agreement where the interest (11.75% APR) is waived for the first 12 months provided they make the required monthly payments; otherwise the interest is accrued from the date of purchase.
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[DOC File]JustAnswer
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Interest is paid semi-annualy on Jan 1st and June 30th. General Products can redeem these Bonds any time after June 30,2016 @ 101. To take advantage of lower interest rates and to finance the redemption of 6% Bonds on Sept.1st 2016, GeneralProducts issued 5%Bonds in the face value of $100,000 to yield 6% The maturity period of these 5% Bonds is ...
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[DOC File]CHAPTER 1
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When the bonds are purchased between interest dates, the investor must also pay for the accrued interest (which will be returned to the investor on the next interest payment date). 21. Most long-term bond investments are classified as available-for-sale securities because investors usually sell before the securities mature.
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[DOCX File]assets.openstudy.com
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29. Your parents’ original purchase price was $1,550.00 plus 7.25% sales tax. They enter into an agreement where the interest (11.75% APR) is waived for the first 12 months provided they make the required monthly payments; otherwise the interest is accrued from the date of purchase.
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[DOC File]para 1 - Cengage
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When the bonds are purchased between interest dates, the investor must also pay for the accrued interest (which will be returned to the investor on the next interest payment date). 21. Most long-term bond investments are classified as available-for-sale securities because investors usually sell before the securities mature.
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Houston Community College
Interest incurred on a loan but not paid or recorded is $635. c. Office supplies of $600 were on hand at the beginning of the period. Purchases of office supplies during the period totaled $200.
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Accrued interest paid on purchases