1195685as module item jd 12594201 THDtn CALCULATOR PRINTER V

/1195685/as module item jd 12594201 THDtn CALCULATOR PRINTER VERSION Brief Exercise 13-2 Skysong Company 1, 2017, ork borro ed $31,200 on November 1 2017, by signing a $31,200, 9% 3-month note. Prepare Skysong\'s November 2017, annual adjusting entry: and the February 1, 2018, entry. (II no entry is required, select Entry\" for the account titles and enter o for the amounts. Credit account bitles are automat amount is entered. Do not indent manually.) 10 Date Account Titles and Explanation Debit Credit saw p IAna Question Attempts: 00\' 5 used 1901977 tn sert prt s

Solution

Journal entry :

Date	accounts & explanation	debit	credit
2017, Nov 1	Cash a/c	31200
	Notes payable a/c		31200
2017, Dec 31	Interest expenses a/c (31200*9%*2/12)	468
	Interest payable a/c		468
2018, Feb 1	Notes payable	31200
	Interest payable	468
	Interest expenses (31200*9%*1/12)	234
	Cash a/c		31902