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Business, 27.11.2019 23:31 jpsaad00

On january 1, a company borrowed $50,000 cash by signing a 7% installment note that is to be repaid in 5 annual end-of-year payments of $12,195. the first payment is due on december 31. prepare the journal entries to record the issuance of the note and the first and second installment payments.?

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On january 1, a company borrowed $50,000 cash by signing a 7% installment note that is to be repaid...
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