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Unformatted text preview: 2. Prepare the appropriate adjusting entry for the note by Quantum on December 31, 2006. 3. Prepare the journal entry for the payment of the note at maturity. Enter answers in dollars not millions of dollars. Round answers to nearest whole number. 1. Cash 8186000 Notes payable 8186000 2. Interest expense 150,077 Interest payable 150,077 3. Interest expense 525,268 Interest payable 150,077 Notes payable 8,186,000 Cash 8,861,345...
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This note was uploaded on 03/30/2010 for the course COB ACCY 202 taught by Professor Shapland during the Spring '10 term at University of Illinois, Urbana Champaign.
- Spring '10