On june 1 2014 microtel enterprises lends 60000 to, Accounting Basics

+44 141 628 6080
[email protected]

On june 1 2014 microtel enterprises lends 60000 to

Interest Receivable

On June 1, 2014, MicroTel Enterprises lends $60,000 to MaxiDriver Inc. The loan will be repaid in 60 days with interest at 10%.

Required

1. Prepare the journal entry on MicroTel's books on June 1, 2014.

2. Prepare the adjusting entry on MicroTel's books on June 30, 2014.

3. Prepare the entry on MicroTel's books on July 31, 2014, when MaxiDriver repays the princi- pal and interest.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: On june 1 2014 microtel enterprises lends 60000 to

Reference No:- TGS01292017

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Problem concerning consensual sexual relationship

Question: Jena and Ben are employees of Big City Electronics. They began to have a consensual sexual relationship.

Discuss three ethical guidelines that are important

Identify and discuss three ethical guidelines that are important to consider when designing an 8-week group for adolescents who are referred

Describe some of your personality traits

Adler believed that your birth order determines, to a large extent, your personality. He stated that your traits reflect, somehow, how you have achieved

Discussion about gender stereotyping

Prior to your taking this graduate HR law class you had heard of the term "gender stereotyping," but didn't know much about it.

Why you feel unpleasantly hot and sweaty

Working in the yard, you feel unpleasantly hot and sweaty when you come in the house, so you take a shower and begin to feel better.

Describe the results, including any scores

Describe the results, including any scores. Result: E6% Extraverted Action oriented, Outgoing, Expressive, Hands-On S17% Sensing Traditional,

Examine historical literature to the most current period

Examine historical literature to the most current period to see the growth of romanticism and EXISTENTIALISM. any major developments

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: On june 1 2014 microtel enterprises lends 60000 to

Reference No:- TGS01292017

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What are the minimum value and maximum value

Q : A skater extends her arms holding a 2kg mass in each hand

Q : What are the longterm global impacts of fukushima likely to

Q : A ball is rolling down a hill was displaced 196 m while

Q : On june 1 2014 microtel enterprises lends 60000 to

Q : Assume that the vapor is an ideal gas not a good

Q : Lexington builders owns property in kaneland county

Q : I am very hungry and want the noodles to cook faster so i

Q : A tennis ball is struck and departs from the racket