Question
On January1, 2018, LyndFlint signed a $180,000, 9-year, 13% note. The loan required LyndFlint to make annual payments on December 31 of $20,000 principal plus
On January1, 2018, LyndFlint signed a $180,000, 9-year, 13% note. The loan required LyndFlint to make annual payments on December 31 of $20,000 principal plus interest. Journalize the issuance of the note on January1, 2018.
Journalize the first note payment on December31, 2018.
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The Pricing Strategy Audit
Authors: Kent B. Monroe
1st Edition
1907766006, 978-1907766008
