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Prob.2 (20pts) Sonya Systems borrows $500,000 on October 1, 2018, by signing a 180-day, 10% note: 1. Suppose the face value of the note equals
Prob.2 (20pts) Sonya Systems borrows $500,000 on October 1, 2018, by signing a 180-day, 10% note: 1. Suppose the face value of the note equals $500,000, the principal of the loan. Prepare the journal entries to record: a. Issuance of the note. b. The entry at year-end, December 31, 2018 c. Payment of the note at maturity
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
9781285586618
