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Step2247 [10]
3 years ago
11

On March​ 1, 2018, Vintage Services issued an​ 8% long-term notes payable for​ $22,000. It is payable over a​ 16-year term in​ $

1,375 principal installments on March 1 of each​ year, beginning March​ 1, 2019. Each yearly installment will include both principal repayment of​ $1,375 and interest payment for the preceding​ one-year period. The journal entry to pay the first installment will include a debit to Interest Expense for​ $1,760. True or False?
Business
1 answer:
AveGali [126]3 years ago
7 0

Answer:

True. The answer and procedures of the exercise are attached in a microsoft excel document.

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

Download xlsx
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The statement is: False.

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Your career should match your hobbies.
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Reverse logistics is the process by which businesses handle the return of consumer items for recycling or because they are defective.

Supply chain management that sends goods back from buyers to sellers or producers is known as reverse logistics. Reverse logistics are needed for procedures like returns or recycling after a customer receives a product. Reverse logistics begin at the customer and work their way backward through the supply chain to the producer or the distributor. Reverse logistics can also refer to procedures where the customer is in charge of the product's final disposal, such as recycling, refurbishing, or resale.

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