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The Carrot Company sold extended warranties for its vacuum cleaners which it sold. The company...

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Accounting

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The Carrot Company sold extended warranties for its vacuum cleaners which it sold. The company received $12,000 for the extended warranties for four years. The monies were received on June 30 th, 2022. The company's year uses the calendar for its business year. What was the journal entry mode on July 30th, 2022? What is the journat entry that the compony will prepare on December a1st, 2022 ? What was the journal entry on January 10 th for $1,500 of parts used to meet the warranty requirements? On April 1st, 2022, the Edmonton Manufacturing Company (EMC) negotiates a loan from the bank for $50,000 with a term of five years, bearing an interest rate of 10%. The loan will require a payment against the principal of $10,000 per year plus interest on March 31st. The EMC has a December 31 st year end and prepares adjusting entries and financial statements only once a year. Prepare the journal entry to record the cash receipt from the loan on Aprit 1st, 2022. Prepare the adjusting entry on December 31st, 2022. How much of the principat is paid on March 31st, 2023? What is the interest expense that should be recorded on March 31,2023 for the current year? What is the interest payable that should be debited on March 31,2023 for the current year

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