Record the following note payable transactions of Cranmore, Corp., in the companys journal. Explanations are not required.

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Record the following note payable transactions of Cranmore, Corp., in the company’s

journal. Explanations are not required.

2012

Feb 1 Purchased equipment costing $30,000 by issuing a one-year, 10% note payable.

Dec 31 Accrued interest on the note payable.

2013

Feb1 Paid the note payable at maturity.

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Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Apr 29, 2014 02:57 AM

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Record the following note payable transactions of Cranmore, Corp., in the companys journal. Explanations are not required.

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Journal DATE ACCOUNTS POST REF Dr Cr 2012 Feb 1 Equipment 30000 Not...View the full answer

Financial Accounting

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