2016Oct. 1Dec. 312017Oct. 1Dec. 31Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual pripayments of $8,000 plus interest each Oct. 1.Accrued interest on the note payable.Paid the first installment on the note.Accrued interest on the note payable.

2016 Oct. 1 Dec. 31 2017 Oct. 1 Dec. 31 Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual p payments of $8,000 plus interest each Oct. 1. Accrued interest on the note payable. Paid the first installment on the note. Accrued interest on the note payable.

2016 Oct. 1 Dec. 31 2017 Oct. 1 Dec. 31 Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual p payments of $8,000 plus interest each Oct. 1. Accrued interest on the note payable. Paid the first installment on the note. Accrued interest on the note payable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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