Coldwell inc issued a 100000 4-year 10 note at face value, Ask an Expert

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Coldwell, Inc. issued a $100,000, 4-year, 10% note at face value to Flint Hills Bank on January 1, 2014, and received $100,000 cash. The note requires annual interest payments each December 31. Prepare Coldwell's journal entries to record (a) the issuance of the note and (b) the December 31 interest payment.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91775069

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