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Consider the following note payable transactions of Crandell Video Productions. (Click the icon to view the transactions.) Journalize the transactions for the company. (Record debits
Consider the following note payable transactions of Crandell 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.) Jul. 1, 2017: Purchased equipment costing $28,000 by issuing a one-year, 6% note payable. Date Accounts and Explanation Debit Credit 2017 Jul. 1 A More Info 2017 Jul. 1 Purchased equipment costing $28,000 by issuing a one-year, 6% note payable. Dec. 31 Accrued interest on the note payable. 2018 Jul. 1 Paid the note payable plus interest at maturity. Dec 31, 2017: Accrued interest on the note payable. Date Accounts and Explanation Debit Credit 2017 Dec. 31 Print Done Jul. 1, 2018: Paid the note payable plus interest at maturity. Date Accounts and Explanation Debit Credit 2018 Jul. 1
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