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On December 31,2015,Dale Corporation Borrowed $85,000 by Signing a 4-Year,12

Question 107

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On December 31,2015,Dale Corporation borrowed $85,000 by signing a 4-year,12% installment note requiring annual payments (on December 31) of accrued interest plus equal amounts of principal.What journal entry would record the first payment on December 31,2016?


A)
On December 31,2015,Dale Corporation borrowed $85,000 by signing a 4-year,12% installment note requiring annual payments (on December 31) of accrued interest plus equal amounts of principal.What journal entry would record the first payment on December 31,2016? A) B) C) D) E)
B)
On December 31,2015,Dale Corporation borrowed $85,000 by signing a 4-year,12% installment note requiring annual payments (on December 31) of accrued interest plus equal amounts of principal.What journal entry would record the first payment on December 31,2016? A) B) C) D) E)
C)
On December 31,2015,Dale Corporation borrowed $85,000 by signing a 4-year,12% installment note requiring annual payments (on December 31) of accrued interest plus equal amounts of principal.What journal entry would record the first payment on December 31,2016? A) B) C) D) E)
D)
On December 31,2015,Dale Corporation borrowed $85,000 by signing a 4-year,12% installment note requiring annual payments (on December 31) of accrued interest plus equal amounts of principal.What journal entry would record the first payment on December 31,2016? A) B) C) D) E)
E) On December 31,2015,Dale Corporation borrowed $85,000 by signing a 4-year,12% installment note requiring annual payments (on December 31) of accrued interest plus equal amounts of principal.What journal entry would record the first payment on December 31,2016? A) B) C) D) E)

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