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What is the appropriate journal entries for transaction

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Question 1: What is the appropriate journal entries for this transaction?

Truck #2 has a list price of $20,000 and acquired for a downpayment of $2,000 cash and a note with face amount of $18,000. The note is due April 1, 2021. Haddad would have to pay interest at a rate of 10% for such a borrowing.

Reference no: EM132544022

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