On March 31, 2014, Vine Company issued a 2%, $ 487,000, three-year note payable when the market
Question:
Required
a. Prepare the journal entry to record the issuance of the note payable.
b. Prepare an amortization table.
c. Prepare the journal entry to record interest expense at December 31, 2014.
d. Prepare the journal entry required on March 31, 2015.
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a We compute the present value of the future payment of 487000 for 3 years at a periodic interest ra...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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