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Required Information The following information applies to the questions displayed below) On August 1, 2022, Colombo Company's treasurer signed a note promising to pay
Required Information The following information applies to the questions displayed below) On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $123,000 on December 21, 2022. The proceeds of the note were $114,900. 1. Use the horizontal model to show the effects of signing the note and the receipt of the cash proceeds on August 2022. Indicate the financial statement effect 2. Use the horizontal model to show the effects of recording interest expense for the month of September Indicate the financial statement effect 3. Use the horizontal model to show the effects of repaying the note on December 31, 2022, indicate the financial statement effect Complete this question by entering your answers in the tabs below. Use the rentai model to show the effects of signing the rote and the reign of the cash prices 1022 as the anal anteffe Assal Bander terty Next > eevernes
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