Question: On September 1 2010 Puriton Telescopes borrowed 100 000 cash
On September 1, 2010, Puriton Telescopes borrowed $ 100,000 cash at 6 percent on an eight- year installment note. Monthly payments start on October 1, 2010. Prepare an installment loan repayment schedule for the first three months of the note and make the entries for the three months.
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