On January 1, 2018, City Motors Cor. issued a $1,000,000, 4-year, 10% note at face value to
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Question:
(a) Prepare the journal entry for the modification of terms on January 1, 2022.
(b) Prepare the amortization schedule for the years 2022 and 2023.
(c) Prepare the journal entry for the first interest payment on December 31, 2022.
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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