On january 1 2013 company borrowed 50 000 cash bt signing a, Financial Accounting

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On january 1 2013 company borrowed 50 000 cash bt signing a

On January 1, 2013 company borrowed $50 000 cash bt signing a 7% installment note that is to be repaid with five annual end-of year payments, the first of which is due on December 31 , 2013 . Assume that the annual payments are to consist of accrued interest plus equal amounts of principal. Prepare the general journal entries to record the first and second installment payments

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Financial Accounting: On january 1 2013 company borrowed 50 000 cash bt signing a

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Financial Accounting: On january 1 2013 company borrowed 50 000 cash bt signing a

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