Solved

Use the Following Information for Questions

Question 98

Short Answer

Use the following information for questions
On January 1 of this year, Gertoni Lenders agrees to lend Ester Corp.$150,000.Ester Corp.signs a $150,000, 6%, 9-month loan.Interest is due at maturity.
-What entry will Ester Corp.make to repay the loan on September 30, assuming no further adjusting entries have been made since June 30? Use the following information for questions On January 1 of this year, Gertoni Lenders agrees to lend Ester Corp.$150,000.Ester Corp.signs a $150,000, 6%, 9-month loan.Interest is due at maturity. -What entry will Ester Corp.make to repay the loan on September 30, assuming no further adjusting entries have been made since June 30?

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q12: Roofer's Inc.had an operating line of credit

Q20: Amounts available to be drawn in the

Q30: Provisions are liabilities of uncertain timing or

Q36: "Off-balance-sheet financing" refers to a situation where

Q82: Under IFRS, if a company can determine

Q90: The market interest rate is often called

Q94: A mortgage payable is often secured by

Q96: Use the following information for questions <br>On

Q99: The times interest earned ratio is calculated

Q100: With fixed principal payments on a long-term