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  3. 3 on january 1,2024, patty's pasties borrows $18,

3 On January 1,2024, Patty's Pasties borrows $18,000 to purchase a delivery truck by...

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Accounting

3
On January 1,2024, Patty's Pasties borrows $18,000 to purchase a delivery truck by agreeing to a 7%, four-year loan with the bank. Payments of $431.03 are due at the end of each month, with the first installment due on January 31,2024.
2
How will the issuance of the note payable and the first monthly payment affect the financial statements?
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Complete this question by entering your answers in the tabs below.
Jan 1
Jan 31
How will the first monthly payment affect the financial statements?
Jan 1
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