Coldwell AG issued a 100,000, 4-year, 10% note at face value to Flint Hills Bank on January

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Coldwell AG issued a €100,000, 4-year, 10% note at face value to Flint Hills Bank on January 1, 2022, and received €100,000 cash. The note requires annual interest payments each December 31. Prepare Coldwell’s journal entries to record

(a) The issuance of the note

(b) The December 31 interest payment.

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Intermediate Accounting IFRS

ISBN: 9781119607519

4th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Aug 02, 2021 07:37 AM

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Coldwell AG issued a 100,000, 4-year, 10% note at face value to Flint Hills Bank on January

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Journal entries No Date Account titles and expl...View the full answer

Intermediate Accounting IFRS

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