Sabonis Cosmetics Co. purchased machinery on December 31, 2011, paying $50,000 down and agreeing to pay the
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Prepare the journal entries that would be recorded for the purchase and for the payments and interest on the following dates.
(a) December 31, 2011.
(b) December 31, 2012.
(c) December 31, 2013.
(d) December 31, 2014.
(e) December 31, 2015.
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a 123111 Machinery 18248520 Discount on Notes Payable 2751480 Cash 5000000 Notes Payable 16000000 To ...View the full answer
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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