Question: Question 18 (6 points) ACME Inc. issued a 10 year, 6%, $340,000 note payable to finance the construction of a new building on August

Question 18 (6 points) ACME Inc. issued a 10 year, 6%, $340,000

Question 18 (6 points) ACME Inc. issued a 10 year, 6%, $340,000 note payable to finance the construction of a new building on August 31, 2021. The terms provide for semi-annual instalment payments on February 28 and August 31. Required: Prepare the journal entries to record the first and second instalment payments assuming the payment is a blended payment of $11,240. (Round to two decimal places) Paragraph v B I UA + v GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT ...

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