QS 7-15 (Algo) Note receivable interest and maturity LO P4 On December 1, Daw Company...
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QS 7-15 (Algo) Note receivable interest and maturity LO P4 On December 1, Daw Company accepts a $32,000,45-day, 9% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming it is honored. (Use 360 days a year On April 1, Cyclone Company purchases a trencher for $304.000. The machine is expected to last five years and have a salvage value of $52,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double-declining-balance method. (Enter all amounts as positive values.)
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