Greener Pastures Corporation borrowed $1,800,000 on November 1, 2018. The note carried a 8 percent interest rate
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Question:
Greener Pastures Corporation borrowed $1,800,000 on November 1, 2018. The note carried a 8 percent interest rate with the principal and interest payable on June 1, 2019.
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(a) The note issued on November 1.
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(b) The interest accrual on December 31.
M10-6 Part 1
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Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Do not round intermediate calculations.)
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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