Consider the following note payable transactions of Cabico Video Productions.   Data table: 2017   Sep.1 Purchased equipment costing $26,000 by issuing a​ one-year, 6​% note payable. Dec. 31 Accrued interest on the note payable.   2018   Sep.1 Paid the note payable plus interest at maturity.   Requirements: Journalize the transactions for the company. ​(Record debits​ first, then credits. Select the explanation on the last line of the journal entry​ table.)

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Chapter9: Accounting For Receivables
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Consider the following note payable transactions of Cabico Video Productions.

 

Data table:

2017
 
Sep.1 Purchased equipment costing $26,000 by issuing a​ one-year,
6​% note payable.
Dec. 31 Accrued interest on the note payable.
 
2018
 
Sep.1
Paid the note payable plus interest at maturity.
 
Requirements:
Journalize the transactions for the company. ​(Record debits​ first, then credits. Select the explanation on the last line of the journal entry​ table.)
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