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    jprevot's Avatar
    jprevot Posts: 1, Reputation: 1
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    #1

    Nov 16, 2009, 08:17 PM
    Journalize Entry
    How would I make a journal entry for this question :
    Purchased land and an office building for $150,000, of which $120,000 was attributable to the fair market value of the building. A $50,000 cash down-payment was made and a 6% five-year note was signed for the balance. Interest and 20% of the principal will be paid annually on this date. (Assume a 360-day year for interest computation purpose).
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Nov 18, 2009, 08:27 PM

    Please see the guidelines at the top of this forum for posting homework problems:
    https://www.askmehelpdesk.com/financ...-b-u-font.html

    Have you attempted this yet?
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