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2. Record the accrued interest on Dec. 31 , 2014 3. Record the interest payment on March 31 , 2015 , assuming no interest accrual
2. Record the accrued interest on Dec. 31 , 2014
3. Record the interest payment on March 31 , 2015 , assuming no interest accrual has been recorded since Dec 32 ,2014 ' 4 , Record the interest payment on September 30, 2015 , assuming no interest accrual has been recorded since the payment on March 31 , 2015. 5. Record the payment of the note on its maturity date .
25.00 points CC10-1 Accounting for Debt Financing LO 10-2] Nicole thinks that her business, Nicole's Getaway Spa (NGS), is doing really well and she is planning a large expansion. With such a large expansion, Nicole will need to finance some of it using debt. She signed a one-year tober 1, 2014; interest is payable semiannually; and the end of Nicole's accounting period is December 31 Required: Prepare the journal entries required from the issuance of the note until its maturity on September 30, 2015, assuming that no entries are made other than at the end of the accounting period, when interest is payable, and when the note reaches its maturity. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the borrowing of $45,000. Note: Enter debits before creditsStep by Step Solution
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