Question

Consider the following note payable transactions of Concert Video Productions.
2015
May 1 Purchased equipment costing $12,000 by issuing a one-year,
3% note payable.
Dec. 31 Accrued interest on the note payable.
2016
May 1 Paid the note payable plus interest at maturity.
Journalize the transactions for the company.


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  • CreatedJune 15, 2015
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