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Account for Installment Note Carthage Company borrowed $240000 on March 1, 2022. The terms of the note were 4%, 5 years, monthly payments of
Account for Installment Note Carthage Company borrowed $240000 on March 1, 2022. The terms of the note were 4%, 5 years, monthly payments of $4420 required. Note: Round final dollar amounts to the nearest dollar. 1. Record the journal entry for signing of the note. Start each entry on a starred row. 2. General Journal Date debit accounts here credit accounts here Debit Credit Record the journal entries for the first two payments on the note. Start each entry on a starred row. General Journal Date debit accounts here credit accounts here * Debit Credit
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