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How would you record these transcations in the cash disbursments journal? Loaned $7,000 to Maple Valley Electric by issuing a 4-year note receivable with a
How would you record these transcations in the cash disbursments journal?
Loaned $7,000 to Maple Valley Electric by issuing a 4-year note receivable with a stated annual interest rate of 7% . The funds were loaned by issuing a check Interest payments o $490 are due on December 31 of each year, beginning in 2018. The entire principal is due four years from December 31, 2017 29 No CD Loaned $7,000 to Maple Valley Electric by issuing a 4-year note receivable with a stated annual interest rate of 7% . The funds were loaned by issuing a check Interest payments o $490 are due on December 31 of each year, beginning in 2018. The entire principal is due four years from December 31, 2017 29 No CDStep by Step Solution
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