Vaughn Company borrowed $31,200 on November 1, 2025, by signing a $31,200, 9%, 3-month note. Prepare Vaughn's November 1, 2025, entry: the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit
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- Arvan Patel is a customer of Banks Hardware Store. For Mr. Patels latest purchase on January 1, 2018, Banks Hardware issues a note with a principal amount of $480,000, 13% annual interest rate, and a 24-month maturity date on December 31, 2019. Record the journal entries for Banks Hardware Store for the following transactions. A. Note issuance B. Subsequent interest entry on December 31, 2018 C. Honored note entry at maturity on December 31, 2019.Windsor Company borrowed $49,200 on November 1, 2025, by signing a $49,200, 10%, 3-month note. Prepare Windsor's November 1,2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit CreditMonty Company borrowed $52,800 on November 1, 2025, by signing a $52,800, 9%, 3-month note. Prepare Monty's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date OP Account Titles and Explanation Debit Credit
- Blue Corporation borrowed $62,000 on November 1, 2025, by signing a $63,395, 3-month, zero-interest-bearing note. Prepare Blue's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit CreditWaterway Company borrowed $36,000 on November 1, 2025, by signing a $36,000, 10%, 3-month note. Prepare Waterway's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date 11/1/25 12/31/25 2/1/26 4 Account Titles and Explanation no No Entry Notes Payable Discount on Notes Payable Debit 36000 24000 Credit 36000 24000Larkspur Corporation borrowed $78,000 on November 1, 2025, by signing a $79,755, 3-month, zero-interest-bearing note. Prepare Larkspur's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date 11/1/25 12/31/25 2/1/26 > Account Titles and Explanation Cash (To record discount amortization) (To record repayment of note) Debit Credit
- Sheridan Corporation borrowed $62,400 on November 1, 2020, by signing a $63,600, 3-month, zero-interest-bearing note. Prepare Sheridan's November 1, 2020, entry; the December 31, 2020, annual adjusting entry; and the February 1, 2021, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date (To record interest) (To pay note) Debit CreditSplish Corporation borrowed $58,500 on November 1, 2020, by signing a $60,000, 3-month, zero-interest-bearing note. Prepare Splish's November 1, 2020, entry; the December 31, 2020, annual adjusting entry; and the February 1, 2021, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record interest) (To pay note)Prepare the entry to record the retirement of half the bonds still outstanding on January 1, 2022 for a cash payment of $1,220,000. Assume the accrued interest was paid. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Date Jan. 1, 2022 Debit Credit
- Prepare the journal entries related for the below transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Part 1 Greener Pastures Corporation borrowed $1,600,000 on November 1, 2018. The note carried a 12 percent interest rate with the principal and interest payable on June 1, 2019. Record the borrowing of $1,600,000. Is for November 1,2018 Part 2 Greener Pastures Corporation borrowed $1,600,000 on November 1, 2018. The note carried a 12 percent interest rate with the principal and interest payable on June 1, 2019. Record the interest accrued on the notes payable. December 31,2018On September 1, 2021, Allied Moving Corp. borrows $110,000 cash from First National Bank. Allied signs a six-month, 5% note payable. Interest is payable at maturity. Allied's year-end is December 31. 1., 2. & 3. Record the following transactions for the note payable by Allied Moving Corp. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to nearest dollar amount.) View transaction list Journal entry worksheet < 1. 2 Record the issuance of notes payable. Date Sep 01, 2021 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general jourRecord the following transactions for Sheridan Company in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) .2020 May 1 Dec. 31 Dec. 31 2021 May Received a $27,450, 12-months, 8% note in exchange for Mark Chamber's outstanding accounts receivable. Date Accrued interest on the Chamber note. Closed the interest revenue account. 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2021.) V > Account Titles and Explanation (To record accrued interest on note.) (To close the interest revenue account.) Debit Credit I