On December 1, Charlotte’s Cookies signed a $210,000, 90-day…

On December 1, Charlotte’s Cookies signed a $210,000, 90-day, 9% note payable to cover a past due account payable. Show your calculations for credit. Prepare Charlotte’s journal entry to record the issuance of the note payable on December 1.  Prepare Charlotte’s adjusting journal entry at the end of the year, December 31.  Prepare Charlotte’s journal entry to record the payment of the note on March 1 of the following year.  

A company issued 11%, 10-year bonds with a par value of $12,…

A company issued 11%, 10-year bonds with a par value of $12,000,000. Interest is paid semiannually. The market interest rate on the issue date was 12%, and the issuer received $11,765,946 cash for the bonds.Record issuance of the bond and the first semiannual interest payment.