DateJournal Entry 30-Sep Notes Payable Interest Expense Account payableQ1. On June 5, Scavenger Company borrowed $125,000 from BC Bank. The loa June 30. Prepare the journal entry to record the payment of the note on Scave
Debitcredit 125000 125000*10%*90/3653082 128082an had an interest rate of 10% and was due in 90 days. Scavenger Company's fiscal yea enger's books.(8 MARKS)
ar-end is
(1) What account should be debited for the $4,000 in labour? (2 mark) (2) What should be the amount of estimated warranty expense for June? (2 mark) 1) the account that should be debited for the 4000 in labour is accrued warranty l 2) 22500=0.035*450000+0.015*450000 22500 is the amount of estimated warranty expense for june 3) Estimated warranty liabilty account balance as of june 30 is 20500=10000+22500-12000
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