Thursday
March 5, 2015

Homework Help: Accounting

Posted by Sang on Monday, January 31, 2011 at 4:54pm.

On Hune 1, Coble Company Ltd. borrows $40,000 from first Bank on a 6-month, $40,000, 9% note. The note matures on December 1.

a) Prepare the entry on June 1.
b)Prepare the adjusting entry on June 30.
c) Prepare the entry at maturity(december 1), assuming monthly adjusting entries have been made through November 30.
d) What was the total financing cost(interest expense)
plz help my homework. thx for reading.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Accounting - On June 1, Coble Company Ltd. borrows $64,000 from First Bank on a ...
Accounting - On June 1, Melendez Company borrows $90,000 from First Bank on a 6-...
accounting - On june 1, coble company ltd borrows $40,000 from first bank on a 6...
accounting - On January 1, 2008 Touring company agreed to buy some equipment ...
accounting - Iron's paper Company, whose fiscal year ends December 31, completed...
Accounting - #9 Unrecorded Liability: Adjusting Entry Refer to PE 4-8. (1) Make ...
accounting - On December 1, Nautilus corporation borrowed $90,000 from a bank ...
accounting - Derm Travel Agency accepted a four-month, 9% interest rate, 52.000 ...
accounting - Worthington Company issued $1,000,000 face value , six-year, 10% ...
Accounting - Horse Country Living publishes a monthly magazine for which a 12-...

Members