On the first day of the fiscal year, a company issues $ 2 6 , 0 0
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Question:
On the first day of the fiscal year, a company issues $ threeyear installment notes that have annual payments of $ The first note payment consists of $ of interest and $ of principal repayment.
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a Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank.
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b Journalize the first annual note payment. If an amount box does not require an entry, leave it blank.
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