On the first day of the fiscal year, a company issues $55,000, 9%, five-year installment notes that
Question:
a. Journalize the entry to record the issuance of the installment notes.
b. Journalize the first annual note payment.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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