On April 1, 2017, Ardos Gardening Products borrowed $100,000 on a 15%, 10-year note with annual installment payments of $10,000 plus interest due on April 1 of each subsequent year. Prepare the journal entry for the issuance of the note
What will be an ideal response
Cash 100,000
Long-Term Notes Payable 100,000
You might also like to view...
The ________ environment includes the interactions between domestic and foreign environmental forces, or between sets of foreign environmental forces when an affiliate in one country does business with customers in another.
Fill in the blank(s) with the appropriate word(s).
Wilson Company's 2011 income statement reports depreciation expense of $25,000 . On the statement of cash flows for 2011 prepared using the direct method, depreciation:
a. would be shown as a deduction under the operating activities. b. would be shown as an addition under the operating activities. c. would be shown as an addition under the financing activities. d. would be ignored. e. would be shown as a deduction under the investing activities.
False and deceptive advertising violates which section of the act?
A) 2 B) 3 C) 4 D) 5
The fact that leased workers are on the payroll of an employment agency does not preclude them from being considered employees of the company at which they are actually working on a joint employer theory
a. True b. False Indicate whether the statement is true or false