Please do not use Excel. Show your work please. Prepare the journal entry at August 31, 2024, to bring the accounting records up to date. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answer to O decimal places, e.g. 125.)Date Account Titles and ExplanationAug. 31List of AccountsDate Account Titles and ExplanationDebitNatalie repays her grandmother on September 15, 2024-10 months after her grandmother extended the loan to Cookie Creations. Prepare the journal entry for the loan repayment. (Credit account titles are automatically indented whenamount is entered. Do not indent manually. Round answer to O decimal places, e.g. 125.)Sept. 15CreditDebitCredit Natalie is thinking of repaying all amounts outstanding to her grandmother. Recall that Cookie Creations borrowed $2,000 on November 16, 2023, from Natalie's grandmother. Interest on the note is 9% per year, and the noteplus interest was to be repaid in 24 months. Recall that a monthly adjusting journal entry was prepared for the months of November 2023 (1/2 month), December 2023, and January 2024.Calculate the interest payable that was accrued and recorded up to January 31, 2024. (Round answer to O decimal places, e.g. 125.)Interest payable $List of AccountsCalculate the total interest expense and interest payable from February 1 to August 31, 2024. (Round answer to 0 decimal places, e.g. 125.)Total interest expense and interest payable $

Journal entries are the foundation of effective record-keeping. They are sorted into various charts…

Natalie is thinking of repaying all amounts outstanding to her grandmother. Recall that Cookie Creations borrowed $2,000 on November 16, 2023, from Natalie's grandmother. Interest on the note is 9% per year, and the note plus interest was to be repaid in 24 months. Recall that a monthly adjusting journal entry was prepared for the months of November 2023 (1/2 month), December 2023, and January 2024. Calculate the interest payable that was accrued and recorded up to January 31, 2024. (Round answer to 0 decimal places, e.g. 125.) Interest payable $ List of Accounts Calculate the total interest expense and interest payable from February 1 to August 31, 2024. (Round answer to 0 decimal places, e.g. 125.) Total interest expense and interest payable $

Natalie is thinking of repaying all amounts outstanding to her grandmother. Recall that Cookie Creations borrowed $2,000 on November 16, 2023, from Natalie's grandmother. Interest on the note is 9% per year, and the note plus interest was to be repaid in 24 months. Recall that a monthly adjusting journal entry was prepared for the months of November 2023 (1/2 month), December 2023, and January 2024. Calculate the interest payable that was accrued and recorded up to January 31, 2024. (Round answer to 0 decimal places, e.g. 125.) Interest payable $ List of Accounts Calculate the total interest expense and interest payable from February 1 to August 31, 2024. (Round answer to 0 decimal places, e.g. 125.) Total interest expense and interest payable $

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 12EA: Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank...

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