Question
on January 1st of this year, we signed the long-term note payable of $50,000. the note payable calls for 6% interest and is a 5-year
on January 1st of this year, we signed the long-term note payable of $50,000. the note payable calls for 6% interest and is a 5-year note. assume that we make $5000 payments each December 31st. Make the entry to record the payment (both principle and interest).
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
