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On the first day of the fiscal year, a company issues $45,000,8%, six-year installment notes that have annual payments of $9,734. The first note payment

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On the first day of the fiscal year, a company issues $45,000,8%, six-year installment notes that have annual payments of $9,734. The first note payment consists of $3,600 of interest and $6,134 of principal repayment. a. Joumalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank. b. Joumalize the first annual note payment If an amount box does not require an entry, leave it blank

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