Business, 13.11.2019 22:31 potatonene
On october 1, 2017, gordon borrows 150,000 cash from a bank by signing a three-year installment note bearing 10% interest. the note requires equal payments of $60,316 each year on september 30.
***complete an amortization table for this installment note
*** prepare the journal entries to record (a) accrued interest as of december 31, 2017 (the end of its annual reporting period) and (b) the first annual payment on the note.
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On october 1, 2017, gordon borrows 150,000 cash from a bank by signing a three-year installment note...
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