Please answer both. This is part A and B Assume that on July 1, 2021, Togo's Sandwiches Issues a $2.53 mllion, one-year note. Interest Is payable at maturity. Determine theamount of Interest expense that should be recorded In a year-end adjusting entry under each of the following Independentassumptions: (Enter your answers In dollars, not In mllllons. Do not round Intermedlate calculatlons. Round your answers to thenearest dollar amount.)Fiscal YearInterestExpenseInterest RateEnd1.9 %December 312.10 % September 303.5 %October 314.7%January 31 On December 2, Coley Corp. acquired 1,500 shares of Its $5 par value common stock for $21 each.On December 20, Coley Corp. resold 1,100 shares for $11 each. Whlch of the following Is correct regarding the journal entry for the resold shares?Multiple CholceCredit Additional Pald-in Capital $6,600Credit Treasury Stock $12,100Credit Treasury Stock $23,100Debit Cash $$16,500

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Assume that on July 1, 2021, Togo's Sandwiches Issues a $2.53 million, one-year note. Interest Is payable at maturity. Determine the amount of Interest expense that should be recorded In a year-end adjusting entry under each of the following Independent assumptions: (Enter your answers In dollars, not In mllllons. Do not round Intermedlate calculatlons. Round your answers to the

Assume that on July 1, 2021, Togo's Sandwiches Issues a $2.53 million, one-year note. Interest Is payable at maturity. Determine the amount of Interest expense that should be recorded In a year-end adjusting entry under each of the following Independent assumptions: (Enter your answers In dollars, not In mllllons. Do not round Intermedlate calculatlons. Round your answers to the

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 5MCQ: Dallas Company loaned to Ewing Company on December 1, 2019. Ewing will pay Dallas $720 of interest...

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