Dec. 31 Paid the annual payment on the note, which consisted of interest of $3,120 and of $5,440. principal Year 4 Dec. 31 Paid the annual payment on the note, including $917 of interest. The remainder of the payment reduced the principal balance on the note. Issued the note for cash at its face amount. If an amount box does not require an entry, leave it blank. Year 1, Jan. 1 Paid the annual Accounts Payable e, which consisted of interest of $3,120 and principal of $5,440. If an amount box does not requ an entry, leave it Bonds Payable Year 1, Dec. 31 Cash Interest Expense Notes Payable Paid the annual payment on the note, including $917 of interest. The remainder of the payment reduced the principal balance on the note. If an amount box does not require an entry, leave it blank. Year 4, Dec. 31
Dec. 31 Paid the annual payment on the note, which consisted of interest of $3,120 and of $5,440. principal Year 4 Dec. 31 Paid the annual payment on the note, including $917 of interest. The remainder of the payment reduced the principal balance on the note. Issued the note for cash at its face amount. If an amount box does not require an entry, leave it blank. Year 1, Jan. 1 Paid the annual Accounts Payable e, which consisted of interest of $3,120 and principal of $5,440. If an amount box does not requ an entry, leave it Bonds Payable Year 1, Dec. 31 Cash Interest Expense Notes Payable Paid the annual payment on the note, including $917 of interest. The remainder of the payment reduced the principal balance on the note. If an amount box does not require an entry, leave it blank. Year 4, Dec. 31
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter14: Long-term Liabilities: Bonds And Notes
Section: Chapter Questions
Problem 11E
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