Maple Corporation accepted a $17,200, 90-day, 6% note from Tracy Janitorial on October 17. What entry should Maple Corporation make on January 15 of the next year when the note is paid?  Note: Use 360 days a year.

Francis, Inc., had the following activities during the current year: -Acquired 2,000 shares of stock in Daly, Inc., for $26,000 -Sold an investment in bonds classified as available for sale for $35,000 when the carrying amount was $33,000 -Acquired a $50,000, 4-year certificate of deposit from a bank that was classified as held to maturity. (During the year, interest of $3,750 was paid to Francis.) -Collected dividends of $1,200 on stock investments in Byline Corporation In Francis’s current-year statement of cash flows, net cash used in investing activities should be

Maple Corporation accepted a $17,200, 90-day, 6% note from Tracy Janitorial on October 17. What entry should Maple Corporation make on January 15 of the next year when the note is paid?  Note: Use 360 days a year.

Burke Corporation sold 13,000 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include:

On September 15, Oakton Company sold merchandise in the amount of $7,800 to Dempster Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Oakton uses the periodic inventory system. The journal entry or entries Oakton will make on September 15 is:

Nalepa Inc. purchased equipment for $23,500 on April 1, 2022. The equipment will be depreciated using the straight-line method over its four-year useful life. Assuming the equipment’s salvage value is $2,300, what will be the amount of accumulated depreciation on the equipment on December 31, 2024?  

Dominic Company borrowed $26,000 by signing a 180-day promissory note at 6%. The total to be paid at maturity of the note is:

Regarding warranties, companies should:

Nalepa Inc. purchased equipment for $23,500 on April 1, 2022. The equipment will be depreciated using the straight-line method over its four-year useful life. Assuming the equipment’s salvage value is $2,300, what will be the amount of accumulated depreciation on the equipment on December 31, 2024?  

Seymour borrows money by promising to make a single payment of $112,000 at the end of 4 years. How much money is Seymour able to borrow today if the interest rate is 12%, compounded semiannually?