What Is The Debit/credit Entry When A Buyer Assumes A Loan From The Seller?

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Kingbird, Inc. started the year with total assets of $309000 and total liabilities of $249000. During the year the business recorded $631000 in revenues, $325000 in …

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Moon Inc. assigns $4,500,000 of its accounts receivables as collateral for a $3 million loan with a bank. The bank assesses a 3% finance charge on the loan amount and charges interest on the note at 6%. What would be the journal entry to record this transaction?

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2/2/2017  · The adjusting entry on December 31 is a debit to Depreciation Expense, $500, and a credit to Equipment, $500. True. False. A company pays an employee $3,000 for a five-day work week, Monday–Friday. The adjusting entry on December 31, which is a Wednesday, is a debit to Wages Expense, $1,800, and a credit to Wages Payable, $1,800. True. False

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Federal Firearms license requirements: Option 1, Buyer applies for a new FFL at current address and transfers inventory on to thier books. Option 2, Buyer is added as a "responsible person" to current license and assumes reponsibility for all previous firearms transaction.

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The Switch Entry Type icon next to the IBAN field allows the user to type in free form. Note : This step can be skipped if the BP is paid by cash or cheque. B.15.

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5/11/2021  · Journalizing refers to using double-entry accounting to record the appropriate debits and credits for a transaction into a journal. ... Debit: Credit: ... This occurs because the seller of the bond will not sell when the stated amount of interest to be paid is greater than what is being paid in the market.

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