Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Apr 2018 My Price 4.00

Tropical Paradise

Record installment notes (LO9–2)

E9–2 On January 1, 2018, Tropical Paradise borrows $50,000 by agreeing to a 6%, six-year note with the

bank. The funds will be used to purchase a new BMW convertible for use in promoting resort properties to potential customers. Loan payments of $828.64 are due at the end of each month with the first installment due on January 31, 2018.

Required:

Record the issuance of the installment note payable and the first two monthly payments.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Apr 2018 06:04 PM My Price 4.00

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