Business, 18.02.2020 03:04 thesusan7494

The company has to pay 11% interest for funds from its bank.

a. Record the two journal entries that should be recorded by Cullumber Company for the two purchases on January 1, 2020.
b. Record the interest at the end of the first year on both notes using the effective-interest method.

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The company has to pay 11% interest for funds from its bank.

a. Record the two journal...

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