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In order to expand its business,the management of Hampton,Inc.issued a long-term notes payable for $50,000 on January 1,2018.The note will be paid over a 10-year period with equal annual principal payments,December 31 of each year.The annual interest rate is 12%.Prepare the journal entry for the first installment payment.Omit explanation.
IUPAC Name
The systematic naming of chemical compounds based on the rules established by the International Union of Pure and Applied Chemistry.
Wood Alcohol
Another term for methanol, a simple alcohol that is used as a solvent, antifreeze, or fuel, and is dangerous to consume.
Methanol
A simple alcohol with the formula CH3OH, used as a solvent, antifreeze, fuel, and as a feedstock in chemical synthesis.
IUPAC Name
The systematic naming of chemical compounds according to the rules set by the International Union of Pure and Applied Chemistry.
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