Needing some long-term financing, on December 31, 2024, Champion Company borrowed $90,000 by signing an 9% instalment no

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answerhappygod
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Needing some long-term financing, on December 31, 2024, Champion Company borrowed $90,000 by signing an 9% instalment no

Post by answerhappygod »

Needing some long-term financing, on
December 31, 2024, Champion Company borrowed $90,000 by signing an
9% instalment note, repayable with 8 equal annual payments.
The first payment is due on December 31, 2025:
REQUIRED:
Give the journal entry to record the fourth instalment payment
on December 31,2028
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