I'm having problems with the Journal Entry for the following: Thanks in advance for any assistance! On October 1, 2005, XYZ Co. lent $48,000 to TightFit Shoes. A note was signed with principle and 10% interest to be paid on September 30, 2006.

Tyring to journal interest paid on bonds issued. I think I debit the bond interest paid, but then do I credit cash? For example, on 12/31, I have debit of Bond Interest Expense and a credit of Bond Interest Payable. If the interest is paid on 1/1, how do I journal the entry? I am thinking a Bond...

Wanted to know the journal entry required when purchasing a bond with accrued interest and the bond is purchased at a discount

How would I write a journal entry and adjusting entry for the purchase of a vehice with the following given information? Purchase a truck for $15,000 on a 8% note truck has useful life of 7 years with no salvage value monthy payment of $400, includes principal and interest

How do I enter this transaction in the journal? A company paid $4,500 in interest: $500 incurred in January, 2005, and $4,000 to cover the amount owed as of 12/31/2004. I think my answer is wrong. I have... DR: Interest Expense $500 DR: Interest Payable $4000 ... CR: Cash ...