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$\frac{x}{s}$ Question $1$

Question $2$

$\frac{x}{?}$ Question $3$

Question $4$

Consider the following note payable transactions of Klora Productions.

View the transactions.

Requirements

Journalize the transactions for the company.

Considering the given transactions only, what are Klora Productionstotal liabilities on December $31,2026?$

Requirement $1.$ Journalize the transactions for the company. $($Record debits first, then credits. Select explanations on the last line of the journal entry.$)$

Jul. $1,2025$: Purchased equipment costing $$450,000$ by issuing a fifteen$-$year, $14\%$ note payable. The note requires annual principal payments of $$30,000$ plus interest each July $1.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Jul$.1,2025,$Equipment,$450,000,],[,$Notes Payable,,$450,000],[,,,],[,,,]]$

Dec $31,2025$: Accrued interest on the note payable.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.31,2025,$Interest Expense,,$],[,$Interest Payable,,$],[,,,],[,,,]]$

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