ACC202WA1EXCELCH13 - Student Name: Thomas Baker Class:...

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Student Name: Thomas Baker Class: ACC-201 Problem 13-01 BLANTON PLASTICS General Journal Account Debit Credit Blanton Plastics Cash 14,000,000 Notes payable 14,000,000 «- Correct! Notes receivable 14,000,000 Cash 14,000,000 «- Correct! Adjusting Entries (December 31, 2011) Blanton Plastics Interest expense 420,000 Interest payable 420,000 «- Correct! Interest receivable 420,000 Interest revenue 420,000 «- Correct! Maturity (January 31, 2012) Blanton Plastics Interest expense 140,000 Interest payable 420,000 Notes payable 14,000,000 Cash 14,560,000 «- Correct! Cash 14,560,000 «- Correct! Interest revenue 140,000 Interest receivable 420,000 Notes receivable 14,000,000 Issuance of Note (October 1, 2011) Cash 13,440,000 Discount on notes payable 560,000 Notes payable 14,000,000 «- Correct! Adjusting Entry (December 31, 2011) Interest expense 420,000 Interest payable 420,000 «- Correct! Maturity (January 31, 2012) Interest expense 140,000 Discount on notes payable 140,000 «- Correct! Notes payable
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This note was uploaded on 10/16/2011 for the course ACCOUNTING 202 taught by Professor ?? during the Spring '10 term at Thomas Edison State.

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ACC202WA1EXCELCH13 - Student Name: Thomas Baker Class:...

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