On December 31, 2016, Jabot purchased $16,000 of equipment on a one year, 9 percent note payable.

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On December 31, 2016, Jabot purchased $16,000 of equipment on a one year, 9 percent note payable. Journalize the company's purchase of equipment, the accrual of interest expense on May 31, 2017 (its fiscal year end), and the payment of the note plus interest on December 31, 2017.
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Related Book For  answer-question

Horngrens Accounting

ISBN: 978-0133855371

10th Canadian edition Volume 1

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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