Assume that a $10,000, five-year, 8% term note, is issued on October 1, 20X3: what is...

 

Transcribed Image Text:

Assume that a $10,000, five-year, 8% term note, is issued on October 1, 20X3: what is the Journal Entry Cash Note Payable 10,000 10,000 Cash 10,000 Accounts Payable 10,000 Note Payable 10,000 Cash 10,000 Cash 10,000 Bond Payable 10,000 Assume that a $10,000, five-year, 8% term note, is issued on October 1, 20X3: what is the Journal Entry Cash Note Payable 10,000 10,000 Cash 10,000 Accounts Payable 10,000 Note Payable 10,000 Cash 10,000 Cash 10,000 Bond Payable 10,000