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Business, 01.01.2021 22:20 sanchezgirl513

Flamingo Company borrows $30,000 using a five-year, long-term installment note payable. The rate on the note is 5 percent and Flamingo agrees to make monthly payments of $566.14. When Flamingo records its first payment on the note payable, what will the journal entry look like (without the numbers).

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Flamingo Company borrows $30,000 using a five-year, long-term installment note payable. The rate on...
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