Question
Prepare all Journal Entries related to the following note of Company for the 2019 fiscal year which ends Dec. 31, 2019. NOTE C: On April
Prepare all Journal Entries related to the following note of Company for the 2019 fiscal year which ends Dec. 31, 2019.
NOTE C: On April 1, 2019, Company finished consultation services and accepted in exchange a promissory note with a face value of $100,000, a due date of April 1, 2021, and no stated or coupon rate. The 11% interest is a realistic interest rate (market rate)for a note of this type.
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Cost And Management Accounting An Introduction
Authors: Colin Drury
7th Edition
1408032139, 978-1408032138
