Coldwell inc issued a 100000 4-year 10 note at face value, Accounting Basics

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Coldwell inc issued a 100000 4-year 10 note at face value

Coldwell, Inc. issued a $100,000, 4-year, 10% note at face value to Flint Hills Bank on January 1, 2014, and received $100,000 cash. The note requires annual interest payments each December 31. Prepare Coldwell's journal entries to record (a) the issuance of the note and (b) the December 31 interest payment.

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Accounting Basics: Coldwell inc issued a 100000 4-year 10 note at face value

Reference No:- TGS01396507

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Accounting Basics: Coldwell inc issued a 100000 4-year 10 note at face value

Reference No:- TGS01396507

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