10-1A - 1-Nov Notes Payable 15,000 Interest Expense...

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10-1A 1 7-Apr Cash 36,000 Notes Payable 36,000 10-May Equipment 122,500 Interest Expense ($125,000 × 120/360 × 6%) 2,500 Notes Payable 125,000 6-Jun Notes Payable 36,000 Interest Expense ($36,000 × 60/360 × 8%) 480 Notes Payable 36,000 Cash 480 6-Jul Notes Payable 36,000 Interest Expense ($36,000 × 30/360 × 9%) 270 Cash 36,270 3-Aug Merchandise Inventory 15,000 Accounts Payable—Hamilton Co. 15,000 2-Sep Accounts Payable—Hamilton Co. 15,000 Notes Payable 15,000 7 Notes Payable 125,000 Cash 125,000
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Unformatted text preview: 1-Nov Notes Payable 15,000 Interest Expense ($15,000 60/360 6%) 150 Cash 15,150 15 Store Equipment 150,000 Notes Payable 94,500 Cash 55,500 15-Dec Notes Payable 13,500 Interest Expense ($13,500 8% 30/360) 90 Cash 13,590 21-Dec Litigation Loss 30,000 Litigation Claims Payable 30,000 2 a. Product Warranty Expense 8,400 Product Warranty Payable ### b. Interest Expense 828 Interest Payable 828 ($13,500 8% 46/360 6....
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This note was uploaded on 04/22/2009 for the course BUS 181 taught by Professor Ms. smith during the Spring '09 term at Harold Washington College - CCC.

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