1.On January 1, 2018, Corvallis Carnivals borrows $24,000 to purchase a delivery truck by agreeing to a...
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1.On January 1, 2018, Corvallis Carnivals borrows $24,000 to purchase a delivery truck by agreeing to a 5%, five-year loan with the bank. Payments of $452.91 are due at the end of each month, with the first installment due on January 31, 2018.
Record the issuance of the note payable and the first monthly payment.
- Record the issuance of the Note Payable
- Record the First Monthly
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