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Consider the following note payable transactions of Cabico Video Productions. (Click the icon to view the transactions.) Journalize the transactions for the company. (Record debits
Consider the following note payable transactions of Cabico Video Productions. (Click the icon to view the transactions.) Journalize the transactions for the company. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 1, 2017: Purchased equipment costing $32,000 by issuing a one-year, 6% note payable. Date Accounts and Explanation Debit Credit 2017 Mar. 1 More Info 2017 Mar. 1 Purchased equipment costing $32,000 by issuing a one-year, 6% note payable Dec. 31 Accrued interest on the note payable. Dec 31, 2017: Accrued interest on the note payable. 2018 Date Accounts and Explanation Debit Credit Mar. 1 Paid the note payable plus interest at maturity. 2017 Dec. 31 Print Done Debit Credit Mar. 1, 2018: Paid the note payable plus interest at maturity. Date Accounts and Explanation 2018 Mar. 1
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