Question
On March 1 2020 AXQ purchased equipment $8,500 and signed a 10 month note with an interest rate of 5.5 % APR. Loan agreement is
On March 1 2020 AXQ purchased equipment $8,500 and signed a 10 month note with an interest rate of 5.5 % APR. Loan agreement is the toal amount owed, due in 10 months.
Prepare the following:
Journal entry for March 1
Journal entry for March 31 to record the first monthly interest owed
Journal entry at maturity when loan is paid to the bank
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Nmap Network Exploration And Security Auditing Cookbook
Authors: Paulino Calderon
2nd Revised Edition
1786467453, 978-1786467454
