Fill all requirements please. 2018Apr. 1Oct. 1Dec. 1Dec. 312019May 30Loaned $8,000 to Bland, Co. Received a six-month, 10% note.Collected the Bland note at maturity.Loaned $6,000 to Flores, Inc. on a 180-day, 12% note.Accrued interest revenue on the Flores note.Collected the Flores note at maturity.edit Suppose First Fidelity Bank engaged in the following transactions:(Click the icon to view the transactions.)Journalize the 2018and 2019transactions on First Fidelitybooks. Explanations are not needed. Use a 365-day year tocompute interest. Round interest calculations to the nearest dollar. First Fidelity'accounting period ends on December31. (Record debits first, then credits. Exclude explanations from journal entries. Use a 365-day year to computeinterest on notes stated in days. For notes stated in months, use the number of months when calculating interest.)Begin with the transactions for 2018.Apr. 1: Loaned $8,000 to Bland, Co. Received a six-month, 10% note.Accounts and ExplanationDate2018Apr. 1Oct. 1: Collected the Bland note at maturity.Date2018Oct. 1Dec. 1: Loaned $6,000 to Flores, Inc. on a 180-day, 12% note.DateAccounts and Explanation2018Dec. 1Dec. 31: Accrued interest revenue on the Flores note.Date2018Dec. 31Accounts and ExplanationDateNow record the transaction for 2019.May 30: Collected the Flores note at maturity.2019May 30Accounts and ExplanationAccounts and ExplanationDebitDebitDebitDebitDebitCreditCreditCreditCreditCredit

Journal entries in accounting are a fundamental part of the double-entry bookkeeping system. They…

2018 Apr. 1 Oct. 1 Dec. 1 Dec. 31 2019 May 30 Loaned $8,000 to Bland, Co. Received a six-month, 10% note. Collected the Bland note at maturity. Loaned $6,000 to Flores, Inc. on a 180-day, 12% note. Accrued interest revenue on the Flores note. Collected the Flores note at maturity.

2018 Apr. 1 Oct. 1 Dec. 1 Dec. 31 2019 May 30 Loaned $8,000 to Bland, Co. Received a six-month, 10% note. Collected the Bland note at maturity. Loaned $6,000 to Flores, Inc. on a 180-day, 12% note. Accrued interest revenue on the Flores note. Collected the Flores note at maturity.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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Question

Fill all requirements please.

2018
Apr. 1
Oct. 1
Dec. 1
Dec. 31
2019
May 30
Loaned $8,000 to Bland, Co. Received a six-month, 10% note.
Collected the Bland note at maturity.
Loaned $6,000 to Flores, Inc. on a 180-day, 12% note.
Accrued interest revenue on the Flores note.
Collected the Flores note at maturity.
edit

Suppose First Fidelity Bank engaged in the following transactions:
(Click the icon to view the transactions.)
Journalize the 2018and 2019transactions on First Fidelitybooks. Explanations are not needed. Use a 365-day year to
compute interest. Round interest calculations to the nearest dollar. First Fidelity'accounting period ends on December
31. (Record debits first, then credits. Exclude explanations from journal entries. Use a 365-day year to compute
interest on notes stated in days. For notes stated in months, use the number of months when calculating interest.)
Begin with the transactions for 2018.
Apr. 1: Loaned $8,000 to Bland, Co. Received a six-month, 10% note.
Accounts and Explanation
Date
2018
Apr. 1
Oct. 1: Collected the Bland note at maturity.
Date
2018
Oct. 1
Dec. 1: Loaned $6,000 to Flores, Inc. on a 180-day, 12% note.
Date
Accounts and Explanation
2018
Dec. 1
Dec. 31: Accrued interest revenue on the Flores note.
Date
2018
Dec. 31
Accounts and Explanation
Date
Now record the transaction for 2019.
May 30: Collected the Flores note at maturity.
2019
May 30
Accounts and Explanation
Accounts and Explanation
Debit
Debit
Debit
Debit
Debit
Credit
Credit
Credit
Credit
Credit

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