Needing some long-term financing, on December 31, 2024, Champion Company borrowed $90,000 by signing an 9% instalment no
Posted: Wed Mar 09, 2022 8:24 am
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
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