On November 1st, 2022, Denk Corporation issued a $70,000, 9%, two-year installment note to Bilt Bank. Payments
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Question:
Required:
1. Construct an amortization table for the installment note.
2. Journalize the interest accrual on 12/31/2022. Journal entry descriptions are not required.
3. Journalize the 1st and 2nd payments. Journal entry descriptions are not required
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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