E10-9 Recording note payable transactions [5–10 min]
Consider the following note payable transactions of Creative Video Productions.
2012
May 1 Purchased equipment costing $17,000 by issuing a one-year, 6% note payable.
Dec 31 Accrued interest on the note payable.
2013
May 1 Paid the Note Payable at maturity
RequirementMay 1 Paid the Note Payable at maturity
1. Journalize the transactions for the company
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