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A corporation borrowed $132,000 cash by signing a 5-year, 11% installment note requiring equal annual payments each December 31 of $35,715. What journal entry would
A corporation borrowed $132,000 cash by signing a 5-year, 11% installment note requiring equal annual payments each December 31 of $35,715. What journal entry would the issuer record for the first payment?
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Accounting And Finance For Non Finance Managers
Authors: Jai Kumar Batra
1st Edition
9352806964, 978-9352806966
