On March 1, 2015, Vinnie Services Issued a 5% Long-Term

question 63

Multiple Choice

On March 1, 2015, Vinnie Services issued a 5% long-term notes payable for $15,000. It is payable over a 3-year term in $5,000 principal installments on March 1 of each year, beginning March 1, 2016. Which of the following entries needs to be made at March 1, 2015?

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Definitions:

Socioeconomic Status

An aggregate measure of an individual or family's economic and social position relative to others, based on income, education, and occupation.

Generalized

The process by which conclusions are drawn from specific instances to broader contexts or situations.

External Validity

The scope of applicability of research results to different settings and to a wider audience.

External Validity

The extent to which the findings of a study can be generalized to other settings, populations, or times.