Question: 10. A five-year, $100,000,4% note payable was issued on December 31, 2018. The note requires principal payments of $20,000 plus interest due each year beginning

10. A five-year, $100,000,4% note payable was issued on December 31, 2018. The note requires principal payments of $20,000 plus interest due each year beginning December 31, 2019. Prepare the journal entry to record the annual payment at the end of year two on December 31, 2020. Date Accounts Debit Credit

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