On January 1, $59,000 cash is borrowed from a bank in return for a 7% installment note with 24 monthly payments of $2,642 each. (Round your answers to the nearest whole dollars.) 1. Prepare the journal entry to record the issuance of the note.
2. Prepare the journal entry to record the first monthly interest payment.

How do primary and secondary industries differ

Which part/word/phrase in the passage refers to a business’s financing activity seen in a cash flow statement? nathan works as an accountant in a footwear manufacturing company. he is currently preparing the cash flow statement for his employer. during the given accounting period, the company purchased raw materials worth $25,000. it also bought new equipment worth $75,000 to increase its production output. further, it borrowed a long-term bank loan of $100,000 to facilitate further expansion. finally, the company spent $50,000 on advertising its latest brand of footwear in the market. {lol i guessed its "it borrowed a long-term bank loan of $100,000 to facilitate further expansion" and thats correct}

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr