Question
Coldwell, Inc. issued a $102,500, 4-year, 8% note at face value to Flint Hills Bank on January 1, 2014, and received $102,500 cash. The note
Coldwell, Inc. issued a $102,500, 4-year, 8% note at face value to Flint Hills Bank on January 1, 2014, and received $102,500 cash. The note requires annual interest payments each December 31. Prepare Coldwells journal entries to record (a) the issuance of the note and (b) the December 31 interest payment.
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Auditing Principles And Techniques
Authors: Sanjib Kumar Basu, Andrei Alexandrescu
1st Edition
8177581783, 9788177581782
