On December 31, 2018, Jurasick Inc. signs a $60,000 note payable. It is due in e

Question

On December 31, 2018, Jurasick Inc. signs a $60,000 note payable. It is due in eight annual payments of Problem 5A-N Please complete the following: a. The entry to record the Note Payable b. The Note Payable Amortization schedule for the first year c. The first annual payment on December 31, 2019 Date Debit Credit Account and Explanation Dec. 31, 2018 Note Amortization Schedule Beg. Bal | Principal | Interest 896| Cash End. Bal. 12/31/2018 12/31/2019 Date Account and Explanation Dec. 31, 2019 Debit Credit A1 Exam 3A $18, Page 8

Explanation / Answer

a) Journal entry :'

Amortization schedule :

Journal entry :

Date accounts & explanation debit credit Dec 31,2018 Cash 60000 Notes payable 60000 (To record note payable)

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