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Current Attempt in Progress Marin Corporation issued a 4-year, $30,000, 4% note to Greenbush Company on January 1, 2020,
Posted: Fri Jul 01, 2022 8:26 am
by answerhappygod
- Current Attempt In Progress Marin Corporation Issued A 4 Year 30 000 4 Note To Greenbush Company On January 1 2020 1 (21.34 KiB) Viewed 44 times
- Current Attempt In Progress Marin Corporation Issued A 4 Year 30 000 4 Note To Greenbush Company On January 1 2020 2 (22.46 KiB) Viewed 44 times
Current Attempt in Progress Marin Corporation issued a 4-year, $30,000, 4% note to Greenbush
Company on January 1, 2020, and received a computer that normally sells for $24,294. The note requires annual interest payments each December 31. The market rate of interest for a note of similar risk is 10%. D Prepare Marin's journal entries for (a) the January 1 issuance and (b) the December 31 interest. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit