On July 1, 2013, Avery Services issued a long-term note payable for $10,000. It is payable over a 5-year term in $2,000 installments on July 1 of each succeeding year. Please provide the initial journal entry for the issuance of the note.
Definitions:
Fiercely Independent
Describing a person or entity that acts with strong autonomy, often resisting influence or aid from others.
Comfortable Retirement
A phase of life characterized by financial stability and the freedom to enjoy leisure activities without the obligation to work.
Elders
Respected older members of a community who are often sought for advice, wisdom, and leadership.
Nursing Homes
Residential facilities providing a high level of long-term personal or nursing care for individuals who are unable to care for themselves.
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