emilydis4753 emilydis4753

08-06-2020
Business

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On January 1, 2018, White Corporation signed a $ 120,000, four-year, 2% note. The loan required White to make payments annually on December 31 of $ 30,000 principal plus interest.

Required:
a. Journalize the issuance of the note on January 1, 2018
b. Journalize the first payment on December 31, 2018

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