Prepare the journal entry to record the cash receipt

Reference no: EM133654178

Question: On December 31, 2022, Colter Company negotiated a note payable from the bank for $122,300 with a term of 5 years, bearing an annual interest rate of 10%. Prepare the journal entry to record the cash receipt from the note payable. Do not enter dollar signs or commas in the input boxes.

Reference no: EM133654178

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