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Dex signed a $70,000 9%, 5 year note on July 1 two years ago. Record the payment for the 2nd year and assume no interest
Dex signed a $70,000 9%, 5 year note on July 1 two years ago. Record the payment for the 2nd year and assume no interest has been accrued. | ||||||
Payment is $17,996. | ||||||
Notes Payable | ||||||
Interest Expense | ||||||
Cash |
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