Business, 13.11.2019 22:31 potatonene

On october 1, 2017, gordon borrows 150,000 cash from a bank by signing a three-year installment note bearing 10% interest. the note requires equal payments of $60,316 each year on september 30.

complete an amortization table for this installment note
prepare the journal entries to record (a) accrued interest as of december 31, 2017 (the end of its annual reporting period) and (b) the first annual payment on the note.

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On october 1, 2017, gordon borrows 150,000 cash from a bank by signing a three-year installment note...

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