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Cucina Corporations signed a new installment deposited the proceeds of $58,000 in its bank account . The note has 3 year term compounds 5,percent interest
Cucina Corporations signed a new installment deposited the proceeds of $58,000 in its bank account . The note has 3 year term compounds 5,percent interest annually and requires an annual interest installment payment December 31. Cucina Corp has a December 31 year end and adjusts its accounts only at year -end 1. Use an online application such as the loan calculator to generate armortization schedule Enter that information into an amortization schedule with the following headings Year , beginning Notes Payable, Interest Expense , Repaid Principal on Notes Payable and ending Notes Payable . 2 Prepare the journal entries on a January 1, 2018 and December 31 of b 2018 c 2019 d (2020 ) 3. If Cucina corps year end we're March 31 rather than December 31 prepare the adjusting journal entry would it make for this note on 2018 .. Required 1 Beginning Notes Payable Interest Expense, Repaid Principal on Notes Payable , Ending Notes Payable 2018 2019 2020
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