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

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Coldwell, Inc. issued a $100,000, 4-year, 10% note at face value to Flint Hills Bank on January 1, 2025, 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 and

(b) The December 31 interest payment.

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Intermediate Accounting

ISBN: 9781119790976

18th Edition

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

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Question Posted: Jun 22, 2023 03:10 AM

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

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a b Cash Notes P...View the full answer

Intermediate Accounting

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