finance On January 1, 2018, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at$549,482. 1. Complete the first three rows of an amortization table. 2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018. finance Savath Rajady, the credit manager of Jenkin Company, encourages customers of past-due accounts to sign notes receivable. Mr. Rajady informs customers that future sales on account will be accepted only if the customers sign a note and subsequently pay the note with interest. Using this strategy, most of Jenkin’s customers agree to sign notes. Jenkin Company requires all customers to sign 90-day, 18% notes.
1. Journalize the following transactions completed by Jenkin Company during the current year. The journals are provided in the Working Papers. Use page 18 of a general journal and page 11 of a cash receipts journal. Source documents are abbreviated as follows: notes receivable, NR; receipt, R; memorandum, M.
Nov. 3. Savath Rajady visited the offices of AutoCare Industries. AutoCare’s president agreed to sign a note for $3,000.00. NR63.
14. Received a check for$2,090.00 from Teltor Company. The payment covers a $2,000.00 note, number 52. R245.
28. A$4,000.00, 18%, 90-day note receivable from Sanford Company was due today, but no check has been received. Savath Rajady attempted to call the company but discovered that its phone has been disconnected. M69. 10th EditionEugene F. Brigham, Joel Houston 11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman 4th EditionDon Herrmann, J. David Spiceland, Wayne Thomas 9th EditionRonald W. Hilton