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ror installment note transactions On the first day of the fiscal year, Shiller Company borrowed $ 4 7 , 0 0 0 by giving a
ror installment note transactions On the first day of the fiscal year, Shiller Company borrowed $ by giving a year, installment note to Soros Bank. The note requires annual payments of $ with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $ and principal repayment of $ Journalize the entries to record the following: a Issued the installment note for cash on the first day of the fiscal year. If an amount box does not require an entry, leave it blank. a Paid the first annual payment on the note. If an amount box does not require an entry, leave it blank. b How would the notes payable be reported on the balance sheet at the end of the fiscal year?
ror installment note transactions
On the first day of the fiscal year, Shiller Company borrowed $ by giving a year, installment note to Soros Bank. The note requires annual payments of $ with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $ and principal repayment of $
Journalize the entries to record the following:
a Issued the installment note for cash on the first day of the fiscal year. If an amount box does not require an entry, leave it blank.
a Paid the first annual payment on the note. If an amount box does not require an entry, leave it blank.
b How would the notes payable be reported on the balance sheet at the end of the fiscal year?
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