Consider the following note payable transactions of Creative Video Productions. 2012 May 1 Purchased equipment costing $17,000
Question:
2012
May 1 Purchased equipment costing $17,000 by issuing a one-year, 6% note payable.
Dec 31 Accrued interest on the note payable.
2013
May 1 Paid the note payable at maturity.
Requirement
1. Journalize the transactions for the company.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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