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Prepare Journal Entries Without Explanations for the Following Transactions Involving

question 146

Essay

Prepare journal entries without explanations for the following transactions involving notes payable for Gomez Company,whose fiscal year ends June 30.
$\begin{array}{|l|l|l|}\hline \text { June } &20& \text { Pad a trade account payable with a } 90 \text {-day, } 9 \text { percent } \$ 60,000 \text { note. Interest is } \\&&\text { in addition to the face value. }\\\hline & 30 & \text { Made end-of-year adjusting entry to accrue interest expense for the note. } \\\hline & 30 & \text { Made end-of-year closing entry pertaining to interest expense. } \\\hline \text { Sept. } & 18 & \text { Paid amount due on note, plus interest. }\\\hline \end{array}$
$Prepare journal entries without explanations for the following transactions involving notes payable for Gomez Company,whose fiscal year ends June 30. \begin{array}{|l|l|l|} \hline \text { June } &20& \text { Pad a trade account payable with a } 90 \text {-day, } 9 \text { percent } \$ 60,000 \text { note. Interest is } \\ &&\text { in addition to the face value. } \\ \hline & 30 & \text { Made end-of-year adjusting entry to accrue interest expense for the note. } \\ \hline & 30 & \text { Made end-of-year closing entry pertaining to interest expense. } \\ \hline \text { Sept. } & 18 & \text { Paid amount due on note, plus interest. }\\ \hline \end{array}$

Definitions:

Meiosis

A type of cell division that reduces the number of chromosomes by half, resulting in the production of four gamete cells, essential for sexual reproduction.

Chromosome Combinations

The various possible arrangements of chromosomes that can occur during sexual reproduction due to the process of meiosis.

Diploid Organism

An organism whose cells contain two sets of chromosomes, one set inherited from each parent.