Account Week 6 - Date Description Debit Credit Dec.-31...

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Sheet1 Page 1 Mike's Bikes, Inc. General Journal 2005 Date Description Debit Credit Aug-1 Cash 49000 Notes Payable 49000 Sep.-1 Notes Payable 666.87 Interest Expense 326.67 Cash 993.54 Oct.-1 Notes Payable 671.32 Interest Expense 322.22 Cash 993.54 3) Lender Name: First City Bank Pmt Payment Beginning Scheduled Principal Interest No. Date Balance Payment 1 09/01/05 49000 993.54 666.87 326.67 2 10/01/05 48,333.13 993.54 671.32 322.22 3 11/01/05 47,661.81 993.54 675.79 317.75 4 12/01/05 46,986.01 993.54 680.3 313.24 5 01/01/06 46,305.71 993.54 684.84 308.7 6 02/01/06 45,620.88 993.54 689.4 304.14 7 03/01/06 44,931.48 993.54 694 299.54 4) Interest Payable on Dec. 31, 2005 308.7 5) Notes Payable on Dec. 31, 2005 46305.71 6)
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Unformatted text preview: Date Description Debit Credit Dec.-31 Interest Payable 191.3 Interest Expense 191.3 Debit Credit Interest Payable balance 500 Adjustment 191.3 Corrected IP balance 308.7 Balance per amortization Table 308.7 Difference 7) Date Description Debit Credit Dec.-31 Interest Expense 1705.71 Notes Payable 1705.71 Debit Credit Notes Payable balance 44600 Adjustment 1705.71 Corrected NP balance 46305.71 Balance per amortization Table 46305.71 Difference Sheet1 Page 3 Ending Balance 48333.13 47,661.81 46,986.01 46,305.71 45,620.88 44,931.48 44,237.48 Sheet1 Page 4...
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Account Week 6 - Date Description Debit Credit Dec.-31...

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