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Business, 14.06.2021 22:40 paulusl19

On August 1, a $43,200, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $16,763.05. The entry to record the first payment on July 31 would include: A. Debit to Interest Expense of 3,192.00
B. Credit to cash 14,183.96
C. Credit to Notes payable of 17,375.96
D. Debit to Cash of 17,375.96
E. Debit to Notes payable of 17,375.96

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On August 1, a $43,200, 8%, 3-year installment note payable is issued by a company. The note require...

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