Question

Consider the following note payable transactions of Cigliano Video Productions.

2017
 
May
1
Purchased equipment costing $30,000
by issuing a​ one-year,
3​% note payable.
Dec.
31
Accrued interest on the note payable.
2018
 
May
1
Paid the note payable plus interest at maturity.

 

 

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Business
Accounting

Journal and Ledger Balance

Bond/Notes Valuation

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