Question

In: Accounting

Carla Vista Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts....

Carla Vista Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Carla Vista had the following transactions related to notes payable.

Sept. 1 Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Carla Vista uses a perpetual inventory system.)
Sept. 30 Recorded accrued interest for the Pippen note.
Oct. 1 Issued a $20,400, 10%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1.
Oct. 31 Recorded accrued interest for the Pippen note and the Prime Bank note.
Nov. 1 Issued a $28,800 note and paid $8,600 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months.
Nov. 30 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note.
Dec. 1 Paid principal and interest on the Pippen note.
Dec. 31 Recorded accrued interest for the Prime Bank note and the vehicle note.

Prepare journal entries for the transactions noted above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title for the journal entry on December 1

enter a debit amount

enter a credit amount

enter an account title for the journal entry on December 1

enter a debit amount

enter a credit amount

enter an account title for the journal entry on December 1

enter a debit amount

enter a credit amount

choose a transaction date                                                                      Sept. 1Sept. 30Oct. 1Oct. 31Nov. 1Nov. 30Dec. 1Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

eTextbook and Media

List of Accounts

  

  

Solutions

Expert Solution


Related Solutions

Carla Vista Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts....
Carla Vista Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Carla Vista had the following transactions related to notes payable. Sept. 1 Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Carla Vista uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $20,400, 10%, 4-month note...
Ehler Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts.
Ehler Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Ehler had the following transactions related to notes payable. Sept. 1 Issued a $12,000 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Ehler uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $16,500, 8%, 4-month note to Prime Bank to finance...
Sheffield Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During...
Sheffield Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Sheffield had the following transactions related to notes payable. Sept. 1 Issued a $ 15,600 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1. ( Sheffield uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $ 18,000, 9%, 4-month note...
Flounder Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During...
Flounder Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Flounder had the following transactions related to notes payable. Sept. 1 Issued a $14,400 note to Pippen to purchase inventory. The 3-month note payable bears interest of 8% and is due December 1. (Flounder uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $21,600, 8%, 4-month note to Prime Bank...
Wildhorse Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During...
Wildhorse Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Wildhorse had the following transactions related to notes payable. Sept. 1 Issued a $15,600 note to Pippen to purchase inventory. The 3-month note payable bears interest of 7% and is due December 1. (Wildhorse uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $22,800, 9%, 4-month note to Prime Bank...
Monty Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During...
Monty Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2020, Monty had the following transactions related to notes payable. Sept. 1 Issued a $14,400 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Monty uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $19,200, 8%, 4-month note to Prime Bank...
Sarasota Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During...
Sarasota Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Sarasota had the following transactions related to notes payable. Sept. 1       Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1. (Sarasota uses a perpetual inventory system.) Sept. 30       Recorded accrued interest for the Pippen note. Oct. 1       Issued a $22,800, 10%, 4-month note...
Crane Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During...
Crane Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Crane had the following transactions related to notes payable. Sept. 1 Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 8% and is due December 1. (Crane uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $22,800, 9%, 4-month note to Prime Bank...
Question 4 Sarasota Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing...
Question 4 Sarasota Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Sarasota had the following transactions related to notes payable. Sept. 1       Issued a $16,800 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1. (Sarasota uses a perpetual inventory system.) Sept. 30       Recorded accrued interest for the Pippen note. Oct. 1       Issued a $22,800, 10%,...
Problem 10-2A Cheyenne Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing...
Problem 10-2A Cheyenne Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Cheyenne had the following transactions related to notes payable. Sept. 1 Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Cheyenne uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $20,400, 9%, 4-month note to...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT