Ask Experts Questions for FREE Help !
Ask
    moneymaid's Avatar
    moneymaid Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 12, 2013, 06:29 PM
    Outstanding notes payable journal entry
    Since the beginning of 2011, Shamsud has had a five-year note payable of $125,000 outstanding. The note requires that annual interest payments at 7% be made, and that $25,000 of the principal be repaid each January 1.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #2

    Jan 12, 2013, 07:14 PM
    What is your question?

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Notes payable entry and its adjusting entry [ 5 Answers ]

Here's the problem: Batangas Placement Agency issued a 20% $50,000, 120 days promissory note to Manila Skill Trade Center on October 2,2011 for training their contact workers. * Give the entry of Batangas Placement Agency on October 2, 2011 and its adjusting entry at the end of 2011. I...

Notes payable - adjusting entry [ 3 Answers ]

For the quarter ended June 30, 2007, I'm supposed to make an adjusting entry for a note payable, and the statement reads: Note payable is a 8% note dated May 1, 2007, and due on July 31, 2007. Ledger balance at the end of June for Note payable account is $12,000. Here's what I did: 12000 *...

Adjusting entry for notes payable [ 0 Answers ]

The business has completed the 2nd year of operation. They have had no accountant for these two years. The question is a payment of 10,500 for one years interest on notes payable is now due and on the trail balance the notes payable has a cr. Of 45,000. I have no idea on how to show the adjusting...


View more questions Search