Question: =+PE 14-7A Journalizing installment notes obj. 4 EE 14-7 p. 631 On the first day of the fiscal year, a company issues $35,000, 12%, five-year

=+PE 14-7A Journalizing installment notes obj. 4 EE 14-7 p. 631 On the first day of the fiscal year, a company issues $35,000, 12%, five-year installment notes that have annual payments of $9,709. The first note payment consists of $4,200 of interest and $5,509 of principal repayment.

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