On January 1, 20182018 , you borrowed $ 15 comma 000$15,000 on a five-year, 99 percent note payable. At December 31, 20182018 , you should record a journal entry that includes which of the following?

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Business

Kenzie Lewis

19 November, 20:31

On January 1, 20182018 , you borrowed $ 15 comma 000$15,000 on a five-year, 99 percent note payable. At December 31, 20182018 , you should record a journal entry that includes which of the following?

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Answers (1)

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Vernon · Answer 1

1

Interes expense 1350

Interes payable 1350

Anual interest 9%

2

Interest payable 1350

Bank Loan 2506

Bank 3856

IPayment loan and interest (if the payment is annual)

Explanation:

N Pay. Capital Interest Loan

15.000

1 3.856 2.506 1.350 12.494

2 3.856 2.732 1.124 9.762

3 3.856 2.978 879 6.784

4 3.856 3.246 611 3.538

5 3.856 3.538 318 0