FINANCIAL ACCOUNTING FUNDAMENTALS W/CO
FINANCIAL ACCOUNTING FUNDAMENTALS W/CO
5th Edition
ISBN: 9781259695759
Author: Wild
Publisher: McGraw-Hill Publishing Co.
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Chapter 9, Problem 4E

1.

To determine

Identify the date on which the note will mature.

2.

To determine

Identify the amount of interest expense for the year 2015.

3.

To determine

Identify the amount of interest expense for the year 2016.

4.

To determine

Prepare the journal entry to record (a) issuance of the note, (b) accrual of interest at the end of 2015, and (c) payment of note at maturity.

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