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Please show all yohr work neatley > Short Exercises Assume bonds payable are amortized using the straight-line amortization method unless stated otherwise. Learning Objective 1

image text in transcribedPlease show all yohr work neatley
> Short Exercises Assume bonds payable are amortized using the straight-line amortization method unless stated otherwise. Learning Objective 1 S-F:14-1 Accounting for a long-term note payable On January 1, 2024, Lakeman-Fay signed a $1,500,000, 15-year, 7% note. The loan required Lakeman-Fay to make annual payments on December 31 of $100,000 principal plus interest Requirements 1. Journalize the issuance of the note on January 1, 2024. 2. Journalize the first note payment on December 31, 2024

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