On January 1, 2024, Patty's Pasties borrows $22,000 to purchase a delivery truck by agreeing to a 6%, three-year loan with the bank. Payments of $669.28 are due at the end of each month, with the first installment due on January 31, 2024. Record the issuance of the installment note payable and the first monthly payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1 2 Record the issuance of the installment note payable. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit
On January 1, 2024, Patty's Pasties borrows $22,000 to purchase a delivery truck by agreeing to a 6%, three-year loan with the bank. Payments of $669.28 are due at the end of each month, with the first installment due on January 31, 2024. Record the issuance of the installment note payable and the first monthly payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1 2 Record the issuance of the installment note payable. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On January 1, 2024, Patty's Pasties borrows $22,000 to purchase a delivery truck by
agreeing to a 6%, three-year loan with the bank. Payments of $669.28 are due at the
end of each month, with the first installment due on January 31, 2024.
Record the issuance of the installment note payable and the first monthly payment. (If
no entry is required for a particular transaction/event, select "No Journal Entry
Required" in the first account field. Do not round your intermediate calculations.
Round your final answers to 2 decimal places.)
View transaction list
Journal entry worksheet
<
1
2
Record the issuance of the installment note payable.
Note: Enter debits before credits.
Date
January 01, 2024
Record entry
General Journal
Clear entry
Debit
Credit
View general journ
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