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Business, 14.07.2020 01:01 lolyourenotpoppunk

On January 1, 2019, Brooks Inc. borrows $90,000 from a bank and signs a 5% installment note requiring four annual payments of $25,381 at the end of each year. Complete the necessary journal entry on 12/31 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. No Date General Journal Debit Credit
1 12/31 Interest expense 4,500
Notes payable 90,000

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On January 1, 2019, Brooks Inc. borrows $90,000 from a bank and signs a 5% installment note requirin...

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