Question

Record the following note payable transactions of Cranmore, Corp., in the company’s
journal. Explanations are not required.
2012
Feb 1 Purchased equipment costing $30,000 by issuing a one-year, 10% note payable.
Dec 31 Accrued interest on the note payable.
2013
Feb1 Paid the note payable at maturity.



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  • CreatedApril 29, 2014
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