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Please detail answer. 1. CJ, Inc. issued a promissory note to AJ, Inc. in the amount of $400,000 on January 1 , 2014, the due
Please detail answer.
1. CJ, Inc. issued a promissory note to AJ, Inc. in the amount of $400,000 on January 1 , 2014, the due date is December 31, 2018. The note has a stated rate of 4%. Interest is due each year on December 31 . The current yield rate of interest is 8%. a) What is the present value of the note. b) What entry would AJ, Inc. journalize for the issuance of theStep by Step Solution
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Continuity Management Audit A Complete Guide
Authors: Gerardus Blokdyk
2019 Edition
0655845860, 978-0655845867
