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2020 May 1 Purchased equipment costing $13,600 by issuing a one-year, 3% note payabl December 31 Accrued interest on the note payable. 2021 May
2020 May 1 Purchased equipment costing $13,600 by issuing a one-year, 3% note payabl December 31 Accrued interest on the note payable. 2021 May 1 Paid the note payable plus interest at maturity. Journalize the transactions for the company. Date Description May 1, 2020 Equipment Notes Payable December 31, 2020 Interest Expense Interest Payable May 1, 2021 Debit Credit 13600 13600
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Interpreting and Analyzing Financial Statements
Authors: Karen P. Schoenebeck, Mark P. Holtzman
6th edition
132746247, 978-0132746243
