PB1. LO 13.3 Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at the end of the month for 12 months. The interest rate is 12% annually. If the monthly...

PB1. LO 13.3 Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at the end of<br>the month for 12 months. The interest rate is 12% annually. If the monthly payments are $88.49, what is the journal entry to<br>record the cash received on Jan. 1 and the first payment made on Jan. 31?<br>

Extracted text: PB1. LO 13.3 Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at the end of the month for 12 months. The interest rate is 12% annually. If the monthly payments are $88.49, what is the journal entry to record the cash received on Jan. 1 and the first payment made on Jan. 31?

Jun 03, 2022

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PB1. LO 13.3 Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at the end of the month for 12 months. The interest rate is 12% annually. If the monthly...

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