Week 4 Individual Assingment

Week 4 Individual Assingment - 1 Cash $562,613 Discount on...

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Month Day Description Debit Credit E11-2 a) June 1 Cash $90,000 Notes Payable $90,000 b) June 30 Interest Expense $900 Interest Payable [(90,000 x 12%) x 1/12] $900 c) Dec 31 Notes Payable $90,000 Interest Payable (90,000 x 12% x 6/12) $5,400 Cash $95,400 d) 5,400 E11-18 a) Jan
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Unformatted text preview: 1 Cash $562,613 Discount on Bonds Payable $37,387 $600,000 b) July 1 Bond Interest Expense $28,131 Discount on Bonds Payable $1,131 Cash $27,000 c) Dec 31 Bond Interest Expense $28,187 Discount on Bonds Payable $1,187 Bond Interest Payable $27,000...
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