On January 1,2012,Washta Company issued a long-term note.The note required an annual payment that included a reduction in the principal balance and the payment of interest.Show how the issuance of the note affected the financial statements.

Question

Quizplus · Accepted Answer

The Answer of On January 1,2012,Washta Company issued a long-term note.The note required an annual payment that included a reduction in the principal balance and the payment of interest.Show how the issuance of the note affected the financial statements.

On January 1,2012,Washta Company Issued a Long-Term Note