On November 1, 2010, Phillips Corporation raised $ 2,382,041.19 by issuing a five- year, $ 3,500,000 noninterest-bearing

Question:

On November 1, 2010, Phillips Corporation raised $ 2,382,041.19 by issuing a five- year, $ 3,500,000 noninterest-bearing note. The amortization table for the note follows. Make the entries for the note from November l, 2010, to December 31, 2011.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...