题目内容

The journal entry to record accrued interest on a short-term note payable must include a debit to:

A.Interest Payable and a credit to Cash.
B.Interest Expense and a credit to Cash.
C.Interest Expense and a credit to Interest Payable.
D.Interest Payable and a credit to Notes Payable.

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Kathy's Corner Store has total cash sales for the month of $36,000 excluding sales taxes. If the sales tax rate is 5%, what journal entry is needed? (Ignore Cost of Goods Sold.)

A.debit Cash $37,800, credit Sales $37,800
B.debit Cash $36,000 and credit Sales $36,000
C.debit Cash $34,200, debit Sales Tax Receivable for $1,800 and credit Sales for $36,000
D.debit Cash $37,800, credit Sales $36,000 and credit Sales Tax Payable $1,800

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Montana Company sold merchandise with a retail price of $40,000 for cash. They only accept cash. Montana Company is required to collect 6% state sales tax. The total cash received from customers was:

A.$2,400.
B.$38,200.
C.$40,000.
D.$42,400.

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Smith Corporation issues $2,000,000, 10-year, 8% bonds payable at a price of 98. The journal entry to record the issuance will include a:

A.debit to Cash of $2,000,000.
B.credit to Discount on Bonds Payable for $40,000.
C.credit to Bonds Payable for $1,960,000.
D.debit to Cash for $1,960,000.

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The carrying value of a bond immediately after the bond was issued was $245,000. The bond price was 80. The face value of the bond was:

A.$306,250.
B.$345,000.
C.$249,900.
D.$250,000.

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The journal entry to record accrued interest on a short-term note payable must include a debit to:

A.Interest Payable and a credit to Cash. B.Interest Expense and a credit to Cash. C.Interest Expense and a credit to Interest Payable. D.Interest Payable and a credit to Notes Payable.

Kathy's Corner Store has total cash sales for the month of $36,000 excluding sales taxes. If the sales tax rate is 5%, what journal entry is needed? (Ignore Cost of Goods Sold.)

Montana Company sold merchandise with a retail price of $40,000 for cash. They only accept cash. Montana Company is required to collect 6% state sales tax. The total cash received from customers was:

Smith Corporation issues $2,000,000, 10-year, 8% bonds payable at a price of 98. The journal entry to record the issuance will include a:

The carrying value of a bond immediately after the bond was issued was $245,000. The bond price was 80. The face value of the bond was:

A.Interest Payable and a credit to Cash.
B.Interest Expense and a credit to Cash.
C.Interest Expense and a credit to Interest Payable.
D.Interest Payable and a credit to Notes Payable.