Chp 10 JE journal entries

09 interest expense 66667 cash made rst months

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Unformatted text preview: purchase the automobile showroom 31 Mortgage Payable 67.09 Interest Expense 666.67 Cash Made first month's mortgage payment 733.76 Lease Obliga5ons 2012 31 ­Dec Leased Computer 52,161 Lease Liability Leased a computer for 10 yrs at $10,000 a yr discounted at 14% 31 ­Dec Interest expense Lease Liability Cash 52,161 7,303 2,697 10,000 Paid annual lease pymt (52,161*.14=7,303) 10,000 ­7,303=2,697 Accoun5ng for Bonds Cash 100,000 Bonds Payable Issued $100,000, 12%,...
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