Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on January 1, 2021. Dandy will make 12 monthly payments of $3,914.50 at the end of each month.
Cash Reduction of Note
Period Payment Interest Exp Note Payable Payable
(Credit) (Debit) (Debit) Balance
At issue --- --- --- $45,000.00
01/31/21 $3,914.50 $300.00 $3,614.50 41,385.50
02/28/21 3,914.50 ? ? ?
03/31/21 3,914.50 ? ? ?
04/30/21 3,914.50 ? ? ?
05/31/21 3,914.50 ? 3,711.85 26,684.93
Required:
Using the partially completed amortization table above, prepare the journal entries for the end of March and the end of April.
Answers: 2
Business, 21.06.2019 20:20, ktenz
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Answers: 1
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Answers: 1
Business, 22.06.2019 14:30, deku6
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Answers: 2
Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on January 1, 20...
Mathematics, 03.05.2020 13:32
Mathematics, 03.05.2020 13:32