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Jones Company signed a 5-year note payable on January 1, 2020, of $100,000. The note requires annual principal payments each December 31 of $20,000 plus
Jones Company signed a 5-year note payable on January 1, 2020, of $100,000. The note requires annual principal payments each December 31 of $20,000 plus interest of 5%. The entry to record the annual payment on December 31, 2021, includes
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