On January 1, 2021, Beaver Tours financed the purchase of a new building by borrowing $600,000 from

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On January 1, 2021, Beaver Tours financed the purchase of a new building by borrowing
$600,000 from the bank using a 30-year, 6% note payable. Payments of $3,597.30 are due at the
end of each month, with the first installment due on January 31, 2021. Record the issuance of
the note payable and the first monthly payment.

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Financial Accounting

ISBN: 978-1259914898

5th edition

Authors: David Spiceland, Wayne M. Thomas, Don Herrmann

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