Question: On November 1 2010 Phillips Corporation raised 2 382 041 19 by
On November 1, 2010, Phillips Corporation raised $ 2,382,041.19 by issuing a five- year, $ 3,500,000 noninterest- bearing note. The amortization table for the note follows. Make the entries for the note from November l, 2010, to December 31, 2011.
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