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Subrait tem On January 1, 2021. Brandon Bell Stores, Inc., borrowed $298,000 and immediately received the full amount. The note carried a 10% interest
Subrait tem On January 1, 2021. Brandon Bell Stores, Inc., borrowed $298,000 and immediately received the full amount. The note carried a 10% interest race and raquirem annual payments of $68.423 beginning on December 31, 2021. The note matures on December 31, 2026 The company's fiscal year ends on Decembe 31. The payment includes interest and principal Read the Requireme subsequent Da January 1, December December Requirements a. Prepare the journal entry to record the issuance of the note payable b. Prepare the amortization table for the note c. Prepare the journal entry required to record the first payment on December 31. 2021. d. What is the balance of the note on December 31, 2025, after the payment? e. Prepare the journal entry to record the payment of the note at maturity - X and then use the rounded value for sch unding differences may occur in me f nal year) December December Print Done Next
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