On july 1, shady creek resort borrowed $340,000 cash by signing a 10-year, 9% installment note requiring equal payments each june 30 of $52,979. what is the journal entry to record the first annual payment? a. debit cash $340,000, debit interest expense $52,979, credit notes payable $392,979. b. debit interest expense $52,979; credit cash $52,979. c. debit interest expense $30,600; credit cash $30,600. d. debit interest expense $30,600; debit interest payable $22,379, credit cash $52,979.

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation