Assume that a $10,000, five-year, 8% term note, is issued on October 1, 20X3: what is the Journal Entry Cash Note Payable Cash Note Payable Accounts Payable Cash Cash 10,000 Bond Payable 10,000 10,000 10,000 10,000 10,000 10,000 10,000

Assume that a $10,000, five-year, 8% term note, is issued on October 1, 20X3: what is the Journal Entry Cash Note Payable Cash Note Payable Accounts Payable Cash Cash 10,000 Bond Payable 10,000 10,000 10,000 10,000 10,000 10,000 10,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Assume that a $10,000, five-year, 8% term note, is issued on
October 1, 20X3: what is the Journal Entry
Cash
Note Payable
Cash
Note Payable
Accounts Payable
Cash
Cash
10,000
Bond Payable
10,000
10,000
10,000
10,000
10,000
10,000
10,000

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