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QUESTION 1 On March 1, 2017, Sumney Lawn Services issued a 13% long term notes payable for $200,000. It is payable over a 10-year term

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QUESTION 1 On March 1, 2017, Sumney Lawn Services issued a 13% long term notes payable for $200,000. It is payable over a 10-year term in $20,000 principal installments plus interest on March 1 of each year, beginning March 1, 2018 a.) Provide the entry for the issuance of the note. b.) Provide the entry for the first principal payment of $20,000 plus interest

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