On january 1 2010 a company borrowed 50000 cash by signing

Reference no: EM13609246

On January 1, 2010, a company borrowed $50,000 cash by signing a 7% installment note that is to be repaid in 5 annual end-of-year payments of $7,189. The first payment is due on December 31, 2010. Prepare the general journal entries to record the first and second installment payments

Reference no: EM13609246

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