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PLEASE just put answer i dont understand it at all so an explanation will NOT help, just lines with answers please Required information The following
PLEASE just put answer i dont understand it at all so an explanation will NOT help, just lines with answers please
Required information The following information applies to the questions displayed below. Southtown Corporation purchased equipment and in exchange signed a two year promissory note. The note requires Southtown to make a single payment of $100,000 in two years. Southtown hos other promissory notes that charge interest at the annual rate of 6 percent. 2. to 5. Show the loumal entries to record the equipment purchase, the interest on the nate at the end of the first and second year and the payment of the $100.000 at the end of the second year. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Round your final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Journal entry worksheetStep by Step Solution
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