On December 31, 2014, Iva Majoli Company borrowed $62,092 from Paris Bank, signing a 5-year, $100,000 zero-interest-bearing
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Instructions
(a) Prepare the entry to record the issuance of the loan by Paris Bank on December 31, 2014.
(b) Prepare the entry, if any, to record the impairment of the loan on December 31, 2016, by Paris Bank?
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Related Book For
Intermediate Accounting 2014 FASB Update
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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