Business, 20.06.2020 15:57 karenjunior
On January 1, Year 1, Stratton Company borrowed $110,000 on a 10-year, 9% installment note payable. The terms of the note require Stratton to pay 10 equal payments of $17,140 each December 31 for 10 years. The required general journal entry to record the payment on the note on December 31, Year 2 is:
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On January 1, Year 1, Stratton Company borrowed $110,000 on a 10-year, 9% installment note payable....
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