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On January 1 of Year 1, Bryson Company obtained a $150,000,4 year, 9% instalment note trom Campbed Bank The note requires annuat payments of $46,300,

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On January 1 of Year 1, Bryson Company obtained a $150,000,4 year, 9% instalment note trom Campbed Bank The note requires annuat payments of $46,300, beginning on December 31 of Year 1 . Required: a Propare a table for this instaamert note, amilar to the one presented in Eatibe 4 b. Joumaice the entries for the issuince of the note and the four annual note paymenta. c. Describe how the annual note payment would be reported on the Year 1 income atatoment. ASSEIS REVEMUE 110 Cish 410 Sales 111 Petty Cash 010 Intereit Revenue 121 Accounts Recervable 611 Gain on Redemption of Bonds 122. Allowance for Doubtful Accounts 126 Interest Receivable EXPENSES 127 Notes Reoeivable 510 Cost of Goods Sold 131 Inveriory 515 Credit Card Expense 141. Office Supplies 516 Cash Short and Over 142 Store Supplies 521 Sales Salaries Expense 151. Prepaid Insurance 522 Ofice Salaries Expense 191 Land 531 Advertising Expense 192. Store Equipanent 532 Delvery Expense 193 Accumulated Depreciation-Store Equipment 533 Repairs Expense 194 Office Equipment. 534 Selling Expenses 195 Accumulated Depreciation-Office Equipment 535 Rent Expense. 535 insurance Expense LIABIUTIES 537 Ofice Supplies Expense 210 Accounts Payable 538 Store Supplies Expense 221. Salaries Payable 541. Ead Debt Expense 231 Sales Tax Payable 501. Depreciation Expense-Stove Equipment 232 Interest Payable 502 Deprtiation Expense-0tice Equpment 241. Notes Payable 590 Miscellameous Expense 251 Bonds Payable 710 Interest Expense 252. Discount on Bondt Payable. 711 Loss on Redemption of Bonds 253. Premium on Bonds Payable. EQUITY 311 Common Sitock 312 Paid-in Capitat in Exsess of Par-Common Stock 315. Treasury. Stock 321. Preferred Stock. \$22 Paid-in Capeal in Excess of Pat-Prefered Enock 331 Faid-in. Captal from Sale of Treasury Stock 340 Retaines Eamingr 35: Cash Dividends 342 Stock Dridende a. Prepare a tahis for this mutabment nate, similar to bre one presented in Eathibit 4 c. Describe how the annual note payment would be reported on the Year 1 income statement. Interest expense of would be reported on the income statement

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