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Purchased merchandise on account from Yokum Company

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Jan.;2;Purchased merchandise on account from Yokum Company, $30,000, terms 2/10, n/30.;Feb.;1;Issued a 9%, 2-month, $30,000 note to Yokum in payment of account.;Mar.;31;Accrued interest for 2 months on Yokum note.;Apr.;1;Paid face value and interest on Yokum note.;July;1;Purchased equipment from Korsak Equipment paying $11,000 in cash and signing a 10%, 3-month, $40,000 note.;Sept.;30;Accrued interest for 3 months on Korsak note.;Oct.;1;Paid face value and interest on Korsak note.;Dec.;1;Borrowed $15,000 from the Otago Bank by issuing a 3-month, 8% note with a face value of $15,000.;Dec.;31;Recognized interest expense for 1 mont

 

Paper#27034 | Written in 18-Jul-2015

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