Problem 8-2A Part 1
| Required: |
| 1-a. |
Prepare the journal entries on October 1, 2012, to record the notes payable for Precision Castparts.(Enter your answers in dollars not in millions. Omit the “$” sign in your response.)
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| Date |
General Journal |
Debit |
Credit |
| Oct. 1 |
(Click to select)Notes receivableInterest revenueAccounts receivableNotes payableAccounts payableInterest receivableCashInterest payable |
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(Click to select)Interest revenueNotes payableCashInterest payableInterest receivableAccounts payableAccounts receivableNotes receivable |
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| 1-b. |
Prepare the journal entries on October 1, 2012, to record the notes receivable for Midwest Bank. (Enter your answers in dollars not in millions. Omit the “$” sign in your response.)
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| Date |
General Journal |
Debit |
Credit |
| Oct. 1 |
(Click to select)Accounts receivableNotes receivableCashAccounts payableNotes payableInterest payableInterest receivableInterest revenue |
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(Click to select)Notes payableInterest receivableInterest payableAccounts receivableNotes receivableInterest revenueAccounts payableCash |
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ask your instructor a questioncheck my workeBook Linkreferences
2.value:
9.09 points
Problem 8-2A Part 2
| 2-a. |
Record the adjustments on December 31, 2012, for Precision Castparts. (Enter your answers in dollars not in millions. Omit the “$” sign in your response.)
|
| Date |
General Journal |
Debit |
Credit |
| Dec. 31 |
(Click to select)Interest expenseCashInterest payableAccounts payableNotes payableInterest revenueAccounts receivableNotes receivable |
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(Click to select)Interest expenseNotes payableInterest payableAccounts payableAccounts receivableNotes receivableCashInterest revenue |
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| 2-b. |
Record the adjustments on December 31, 2012, for Midwest Bank. (Enter your answers in dollars not in millions. Omit the “$” sign in your response.)
|
| Date |
General Journal |
Debit |
Credit |
| Dec. 31 |
(Click to select)CashNotes receivableInterest expenseInterest revenueAccounts receivableInterest receivableAccounts payableNotes payable |
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(Click to select)Interest receivableCashAccounts receivableInterest revenueNotes receivableAccounts payableNotes payableInterest expense |
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ask your instructor a questioncheck my workeBook Linkreferences
3.value:
9.09 points
Problem 8-2A Part 3
| 3-a. |
Prepare the journal entries on September 30, 2013, to record payment of the notes payable for Precision Castparts. (Enter your answers in dollars not in millions. Omit the “$” sign in your response.)
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| Date |
General Journal |
Debit |
Credit |
| Sep. 30 |
(Click to select)Accounts receivableInterest receivableBonds payableNotes payableInterest expenseInterest payableCashAccounts payable |
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(Click to select)Interest payableCashAccounts payableInterest expenseNotes payableAccounts receivableBonds payableInterest receivable |
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(Click to select)Interest receivableBonds payableAccounts payableNotes payableInterest expenseAccounts receivableCashInterest payable |
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(Click to select)Interest receivableNotes payableInterest expenseNotes receivableAccounts payableAccounts receivableInterest payableCash |
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| 3-b. |
Prepare the journal entries on September 30, 2013, to record payment of the notes receivable for Midwest Bank. (Enter your answers in dollars not in millions. Omit the “$” sign in your response.)
|
| Date |
General Journal |
Debit |
Credit |
| Sep. 30 |
(Click to select)Notes payableInterest expenseInterest receivableInterest payableAccounts payableCashNotes receivableAccounts receivable |
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|
(Click to select)CashAccounts receivableInterest revenueInterest payableInterest receivableAccounts payableInterest expenseNotes receivable |
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(Click to select)Accounts payableAccounts receivableInterest revenueInterest expenseNotes receivableInterest receivableCashInterest payable |
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(Click to select)Accounts payableInterest expenseAccounts receivableNotes receivableInterest payableCashInterest receivableInterest revenue |
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