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Category > Business & Finance Posted 02 Aug 2017 My Price 11.00

Notes Payable and Interest

Notes Payable and Interest On July 1, 2010, Jo’s Flower Shop borrowed $25,000 from the bank. Jo signed a ten month, 8% promissory note for the entire amount. Jo’s uses a calendar year-end. 

Required
1. Identify and analyze the effect of the issuance of the promissory note.
2. Identify and analyze the effect of any adjustments necessary at year-end.
3. Identify and analyze the effect of the repayment of the principal and interest.

Answers

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Status NEW Posted 02 Aug 2017 07:08 PM My Price 11.00

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