Amortization of a Note Receivable Issued at a Discount (Intermediate Financial Accounting #17) скачать в хорошем качестве

Amortization of a Note Receivable Issued at a Discount (Intermediate Financial Accounting #17)

Using the present value of the $100,000 face value note we'll work out an amortization schedule and report the journal entries to recognize the note, report interest and amortize the discount along with derecognizing the note. NOTE THAT AT THE END I SAID THE CASH INTEREST PAYMENT IS AN ADJUSTMENT. IT IS NOT AN ADJUSTMENT, BUT A JOURNAL ENTRY. Normally in a real life situation the interest is accrued by December 31st (end of year) and paid in cash at a later date. In the example I made the cash was paid on December 31st (not super realistic) which is a journal entry since adjusting entries DO NOT INVOLVE CASH! Sorry for the confusion. Website: http://www.notepirate.com Follow us on Facebook: https://www.facebook.com/pages/Note-P... Follow us on Twitter:   / notepirate   We appreciate all of the support you guys have given us. Be apart of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favorites! * Notepirate is privately owned and exclusive to Notepirate.com.*