Consider the following note payable transactions of Creative Video Productions. 2014 May 1 Purchased equipment costing $
Question:
2014
May 1 Purchased equipment costing $ 17,000 by issuing a one-year, 6% note payable.
Dec. 31 Accrued interest on the note payable.
2015
May 1 Paid the note payable plus interest at maturity.
Journalize the transactions for the company.
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Date Accounts and Explanation Debit Credit 2014 May 1 Equipment 17000 Notes ...View the full answer
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Related Book For 
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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