In Order to Expand Its Business,the Management of Areos,Inc

question 180

Essay

In order to expand its business,the management of Areos,Inc.issued a long-term notes payable for $50,000.The note will be paid over a 10-year period with equal annual principal payments,beginning in one year.The annual interest rate is 12%.Prepare the journal entry for the issuance of the note.Omit explanation.

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Definitions:

Persistent

Showing tenacity and steadfastness in pursuing goals or tasks despite challenges, obstacles, or discouragement.

Human Instinct

Innate aspects of human behavior that are not learned, such as reflex responses or impulses.

Aggression

Behaviors or actions intended to harm or injure another person either physically or psychologically.

Aggressive Patterns

Repeated or habitual modes of aggressive behavior or reactions exhibited by individuals or groups.