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Posted on May 13, 2024

At January 1 , 2 0 2 4 , Brant Cargo acquired equipment by issuing a four - year, $ 1 5 0 , 0

At January

1, 2024,

Brant Cargo acquired equipment by issuing a four

-

year, $

150, 000 (

payable at maturity

), 6 %

note. The market rate of interest for notes of similar risk is

12 % .

Required:

1 .

3 .

Prepare the necessary journal entries for Brant Cargo.

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