ACC 205 Week 4 Exercise 5 Notes payable
- Notes payable. Red Bank Enterprises was involved in the following transactions during the fiscal year ending October 31:
| 8/2: | Borrowed $75,000 from the Bank of Kingsville by signing a 120-day note. |
| 8/20: | Issued a $40,000 note to Harris Motors for the purchase of a $40,000 delivery truck. The note is due in 180 days and carries a 12% interest rate. |
| 9/10: | Purchased merchandise from Pans Enterprises in the amount of $15,000. Issued a 30-day, 12% note in settlement of the balance owed. |
| 9/11: | Issued a $60,000 note to Datatex Equipment in settlement of an overdue account payable of the same amount. The note is due in 30 days and carries a 14% interest rate. |
| 10/10: | The note to Pans Enterprises was paid in full. |
Need Help Writing an Essay?
Tell us about your assignment and we will find the best writer for your essay.
Write My Essay For MeFollow this link to get a similar paper written from scratch
Place an order for this assignment or any other paper with us. We guarantee that the paper will be delivered within the specified deadline. We also have a personalized customer support and you will be able to communicate with your writer throughout the order preparation process. Thank you for choosing us.
Welcome to our trusted essay writing website with track record among students. We specialize in connecting students in need of high-quality essay assistance with skilled writers who can deliver just that. Explore the ratings of our essay writers and choose the one that best aligns with your requirements. When you rely on our online essay writing service, rest assured that you will receive a top-notch, plagiarism-free A-level paper. Our experienced professionals write each paper from scratch, carefully following your instructions. Request a paper from us and experience 100% originality.
From stress to success – hire a pro essay writer!
