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please help asap Pender Corporation borrowed $1,200,000 on January 1, 2020. The note agreement specifies that it will pay interest quarterly at 10% on March
please help asap
Pender Corporation borrowed $1,200,000 on January 1, 2020. The note agreement specifies that it will pay interest quarterly at 10% on March 31, June 30, September 30 and December 31. The principal will be due on December 31, 2025. The company's fiscal year ends on December 31. What journal entry will Pender Corporation make on January 1, 2020? What joumal entry will Pender Corporation make at the end of each quarter? What joumal entries will Pender Corporation make on December 31, 2025? Prepare the journal entry that Pender Corporation will record on January 1, 2020. (Record debits first, then credits. Exclude explanatior from any journal entries.) Interest Expense Interest Payable Long-Term Notes Payable Short-Term Notes PayableStep by Step Solution
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