Journalize the following transactions for Southport Company:
April 1, 2012 Bought an $11,000 machine on a 12-month, 9% note. The machine has
a useful life of five years and is depreciated on a straight-line basis.
Dec 31, 2012 Recorded accrued interest on the note and depreciation on the machine.
April 1, 2013 Paid note from April 1, 2011.

Question

Quizplus · Accepted Answer

The Answer of Journalize the following transactions for Southport Company:
April 1, 2012 Bought an $11,000 machine on a 12-month, 9% note. The machine has
a useful life of five years and is depreciated on a straight-line basis.
Dec 31, 2012 Recorded accrued interest on the note and depreciation on the machine.
April 1, 2013 Paid note from April 1, 2011.

Journalize the Following Transactions for Southport Company