Record the following note payable transactions of Lambda Company in the company's general journal. Explanations are not
Question:
2016
Jun. 1 Purchased delivery truck costing $86,000 by issuing a one-year, 6 percent note payable.
Dec. 31 Accrued interest on the note payable. 2017
Jun. 1 Paid the note payable at maturity.
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