Business
Business, 29.11.2019 05:31, zach8782

Star bank provided cash to a customer, j. brown, to pay for a building. star required that brown also sign a( (mortgage/installment/bond) note payable, which allows the bank to be paid by the cash proceeds of the sale of the building if brown fails to pay on the note.

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Business, 24.10.2019 05:00, alexussaniyah
On december 31, 2014, thomas, inc. borrowed $850, 000 on an eight percent, 15-year mortgage note payable. the note is to be repaid in equal semiannual installments of $49, 156 (payable on june 30 and december 31). prepare journal entries to reflect (a) the issuance of the mortgage note payable, (b) the payment of the first installment on june 30, 2015, and (c) the payment of the second installment on december 31, 2015. round amounts to the nearest dollar.
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Business, 09.11.2019 02:31, auviannadority13
The following events occurred for johnson company: 1. received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share 2. purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable to the manufacturer 3. borrowed $10,000 cash from a bank 4. loaned $800 to an employee who signed a note. 5. purchased $13,000 of land paid $4,000 in cash and signed a mortgage note for the balance required: prepare journal entries for the above transactions. (if no entry is required for a transaction/event, write 'no entry required.')
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Business, 19.11.2019 03:31, morrowdrew
Tyrell co. entered into the following transactions involving short-term liabilities. year 1 apr. 20 purchased $40,250 of merchandise on credit from locust, terms n/30. may 19 replaced the april 20 account payable to locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash. july 8 borrowed $80,000 cash from nbr bank by signing a 120-day, 9%, $80,000 note payable. paid the amount due on the note to locust at the maturity date. paid the amount due on the note to nbr bank at the maturity date. nov. 28 borrowed $42,000 cash from fargo bank by signing a 60-day, 8%, $42,000 note payable. dec. 31 recorded an adjusting entry for accrued interest on the note to fargo bank. year 2 paid the amount due on the note to fargo bank at the maturity date. required: 1. determine the maturity date for each of the three notes described.
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