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On April 1, 2022, Green-Gold Inc. sells $515,000 of merchandise on a note, with 1% annual interest. The note is due in 1 year, with
- On April 1, 2022, Green-Gold Inc. sells $515,000 of merchandise on a note, with 1% annual interest. The note is due in 1 year, with interest and principle due at that time. This company has a financial statement date of 12/31/22.
What journal entries must Green-Gold Inc. record on April 1, 2022, December 31, 2022, and April 1, 2023. (3 points each of the 3 journal entries)
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Computation of amount due at the end of the accounting ye...
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