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A company issues $45000, 8%, six-year installment notes that have annual payments of $9734. The first note payment consists of $3600 of interest and $6134
A company issues $45000, 8%, six-year installment notes that have annual payments of $9734. The first note payment consists of $3600 of interest and $6134 of principle repayment. What is the entry to record the issuance of the note.
Journalize the entry to record the first payment of the above note.
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