On October 1, 2021, Pastina signed a $50,400 note that requires interest to paid annually on September 30 at 12% and will have principal due in 10 years. What is the journal entry and the amount to be entered in the journal?
On October 1, 2021, Pastina signed a $50,400 note that requires interest to paid annually on September 30 at 12% and will have principal due in 10 years. What is the journal entry and the amount to be entered in the journal?
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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On October 1, 2021, Pastina signed a $50,400 note that requires interest to paid annually on September 30 at 12% and will have principal due in 10 years.
What is the
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