On May 1, 2016, Butler Services issued a long-term note payable for $35,000
The note will be paid over five-years with annual principal payments of $7,000, plus interest, on May 1 of each year beginning on May 1, 2017. Prepare the journal entry for the issuance of the note.
What will be an ideal response
Cash 35,000
Long-Term Notes Payable 35,000
You might also like to view...
An abbreviated form of the detailed outline you prepared is called your
) evidence cards B) transcript C) speaker's outline D) manuscript
An invoice of $750.00 dated April 18 is subject to credit terms of 4/10, n/40 If the invoice is paid on April 26, the amount to be paid would be
a. $750.00; b. $720.00; c. $675.00; d. $300.00; e. none of these.
Which of the following are limitations of using the MUS sampling method?
a. MUS is not very useful in testing for understatement. b. MUS is not very useful in testing for zero and negative amounts. c. N MUS is not very useful in testing if the auditor expects numerous misstatements. d. All of the above.
Behavioral targeting:
a. allows "supersmart, supertargeted display ads" to be exposed to an individual b. is based on the person's past online behavior c. does a better job of getting a Web surfer's attention d. ads can be tracked with "laserlike precision." e. all of the above