Data on three promissory notes accepted by Levin Ltd. during 2017 follow. Instructions Determine the missing amounts.
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Instructions
Determine the missing amounts.
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Term in Interest Rate 10% Interest Revenue to Record for Year Ended December 31 Date of Note Oct. 1 Aug. 1 Nov. 1 MonthsPrincipal $180,000 120,000 Total Interest $4,800 12,000 24 6%
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Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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