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Question 6 Partially correct Mark 10.00 out of 16.00 Take me to the text On May 1, 2020, Slow Inc. purchased a delivery truck from
Question 6 Partially correct Mark 10.00 out of 16.00 Take me to the text On May 1, 2020, Slow Inc. purchased a delivery truck from LBJ Trucks, costing $108,000. However, due to cash flow problems, Slow Inc. is currently unable to make the payment. Therefore, to assure LBJ Trucks that it will be paid, Slow Inc, signed a one-year note with 6% interest per annum, to be payable at maturity. Slow Inc.'s year-end is on December 31. Prepare all the necessary journal entries related to the notes payable from the time it is signed to the maturity date. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole dollar, For transactions with more than one debit, enter the accounts in alphabetical order. P Flag question Account Title and Explanation Debit Credit Date May 1 1 Delivery Truck 108000 108000 Notes Payable To record the purchase of delivery truck Dec 31 Interest Expense Interest Payable To record interest accrued Apr 30 Interest Expense Interest Payable Notes Payable Cash To recon Correct ayable
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