Consider the following note payable transactions of Creative Video Productions. 2017 Aug. 1 Purchased equipment costing $16,000
Question:
2017
Aug. 1 Purchased equipment costing $16,000 by issuing a one-year, 9% note payable.
Dec. 31 Accrued interest on the note payable.
2018
Aug. 1 Paid the note payable plus interest at maturity.
Journalize the transactions for the company.
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Date Accounts and Explanation Debit Credit 2017 Aug 1 Equipment 16000 Notes ...View the full answer
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Related Book For 
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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