For the following transaction, provide all of the required journal entries from inception to liquidation. Assume a December 31 year-end and that the company does not prepare interim statements. Round all amounts to nearest dollar. $$\begin{array} { l r }
\text { Face value of note payable } & \$ 200,000 \
\text { Date of issue for note } & \text { March } 1,2019 \
\text { Due date for note } & \text { March } 1,2020 \
\text { Interest rate in the note } & 0 \% \
\text { Market rate of interest } & 5 \% \
\text { Consideration received } & \text { Machinery }
\end{array}$$

Question

For the following transaction, provide all of the required journal entries from inception to liquidation. Assume a December 31 year-end and that the company does not prepare interim statements. Round all amounts to nearest dollar. $$\begin{array} { l r } 
\text { Face value of note payable } & \$ 200,000 \
\text { Date of issue for note } & \text { March } 1,2019 \
\text { Due date for note } & \text { March } 1,2020 \
\text { Interest rate in the note } & 0 \% \
\text { Market rate of interest } & 5 \% \
\text { Consideration received } & \text { Machinery }
\end{array}$$

Quizplus · Accepted Answer

The Answer of For the following transaction, provide all of the required journal entries from inception to liquidation. Assume a December 31 year-end and that the company does not prepare interim statements. Round all amounts to nearest dollar. $$\begin{array} { l r } 
\text { Face value of note payable } & \$ 200,000 \
\text { Date of issue for note } & \text { March } 1,2019 \
\text { Due date for note } & \text { March } 1,2020 \
\text { Interest rate in the note } & 0 \% \
\text { Market rate of interest } & 5 \% \
\text { Consideration received } & \text { Machinery }
\end{array}$$

For the Following Transaction, Provide All of the Required Journal