Larkspur Corporation issued a 4-year, $41,000, 4% note to Greenbush Company on January 1, 2020, and received a computer that normally sells for $31,038. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 12%. Required:
Prepare Cheyenne's journal entries for:
a. the January 1 issuance
b. the December 31 interest.

no one can you on this you have to find a website that displays their earnings for this

the answer is either "loser" or "dumb*ss"

gods, i'm only joking, don't ban me.*

its kinda hard to answer this when we dont have all the information that we need.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"