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This Question: 1 pt This Test: 15 pts possible 13 of 15 (0 complete) On January 1, 2018, Lambert Fisher signed a $200,000, 8-year, 12%
This Question: 1 pt This Test: 15 pts possible 13 of 15 (0 complete) On January 1, 2018, Lambert Fisher signed a $200,000, 8-year, 12% note. The loan required Lambert Fisher to make annual payments on December 31 of $25,000 principal plus interest Requirements 1. Journalize the issuance of the note on January 1, 2018. 2. Journalize the first note payment on December 31, 2018. Requirement 1. Journalize the issuance of the note on January 1, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanations Debit Credit 2018 Jan. 1 Cash Interest Expense Interest Payable Interest Revenue Requireme Notes Payable ber 31, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanations Debit Credit 2018 Dec, 31 Choose from any list renter ann ettember in the input fields and then continue to the next question. This Question: 1 pt This Test: 15 pts possible 13 of 15 (0 complete) On January 1, 2018, Lambert-Fisher signed a $200,000, 8-year, 12 % note . The loan required Lambert Fisher to make annual payments on December 31 of $25,000 principal plus interest Requirements . Journalize the issuance of the note on January 1, 2018. . Journalize the first note payment on December 31, 2018. Jan. 1 Requirement 2. Journalize the first note payment on December 31, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanations Debit Credit 2018 Dec. 31 Issued notes at discount. Issued notes at a premium. Paid principal and interest payment. Received cash in exchange for a note. Choose from any list or enter any number in the input fields and then continue to the next
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