Homework

Part $1$ of $3$

Points: $0$ of $1$

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.$)$

May $1,2023$: Purchased equipment costing $$14,000$ by issuing a one$-$year, $3\%$ note payable.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[2023],[$May $1],[,,,],[,,,],[,,,],[,,,]]$

More info

$\backslash$table$[[$May $1,2023,\backslash$table$[[$Purchased equipment costing $$14,000$ by issuing a one$-$year, $3\%$ note$],[$payable$.]]],[$Dec$.31,2023,$Accrued interest on the note payable.$],[$May $1,2024,$Paid the note payable plus interest at maturity.$]]$