Ask Question
BusinessBusiness
19 November, 20:31

On January 1, 20182018 , you borrowed $ 15 comma 000$15,000 on a five-year, 99 percent note payable. At December 31, 20182018 , you should record a journal entry that includes which of the following?

+4
Answers (1)
  1. 19 November, 23:42
    0
    1

    Interes expense 1350

    Interes payable 1350

    Anual interest 9%

    2

    Interest payable 1350

    Bank Loan 2506

    Bank 3856

    IPayment loan and interest (if the payment is annual)

    Explanation:

    N Pay. Capital Interest Loan

    15.000

    1 3.856 2.506 1.350 12.494

    2 3.856 2.732 1.124 9.762

    3 3.856 2.978 879 6.784

    4 3.856 3.246 611 3.538

    5 3.856 3.538 318 0
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, 20182018 , you borrowed $ 15 comma 000$15,000 on a five-year, 99 percent note payable. At December 31, 20182018 , you should ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The following information relates to the intangible assets of University Testing Services (UTS) : a. On January 1, 2018, UTS completed the purchase of Heinrich Corporation for $3,510,000 in cash.
Answers (1)
When a company performs a service for which it has not been paid, it will create a (n) ?
Answers (1)
Carina has discovered a mixture of nutrients that can be added to soil to make plants grow larger and stronger. She would like to begin doing this kind of work professionally.
Answers (2)
A company borrows $70,000 by signing a $70,000, 8%, 6-year note that requires equal payments of $15,142 at the end of each year. The first payment will record interest expense of $5,600 and will reduce principal by $9,542.
Answers (1)
The Book Division of Tandem books manufactures and sells paper back books for $9.60 per book. Its unit variable costs and unit fixed costs are $0.24 and $0.09, respectively. The Sunset Division wants to purchase 50,000 special edition hardback books.
Answers (1)
New Questions in Business
Which of the elements of this scenario represent a flow from a household to a firm? this could be a flow of dollars, inputs, or outputs. check all that apply.
Answers (1)
Bob has the responsibility for product development, pricing, promotion, and distribution of Hi-Vee Vitamins for children. Bob's job would not involve:
Answers (1)
Which one of the following correctly describes the dividend yield? Multiple Choice Next year's annual dividend divided by today's stock price This year's annual dividend divided by today's stock price This year's annual dividend divided by next
Answers (1)
The Hopkinton Company just paid $2.25 as its annual dividend. The dividends have been increasing at a rate of 5% annually and this trend is expected to continue. The stock is currently selling for $63.60 a share.
Answers (1)
The primary method for sterilizing instruments is
Answers (1)
Home » Business » On January 1, 20182018 , you borrowed $ 15 comma 000$15,000 on a five-year, 99 percent note payable. At December 31, 20182018 , you should record a journal entry that includes which of the following?
Sign Up Forgot Password?