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Ayayai Corporation issues a $746,000,5%, five-year note payable on January 1,2024. The terms provide for...

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Accounting

Ayayai Corporation issues a $746,000,5%, five-year note payable on January 1,2024. The terms provide for semi-annual blended payments of $85,237 on July 1 and January 1.
Prepare the journal entries to record the note on January 1,2024, and the first instalment payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
Date
Account Titles
Debit
Credit
image

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