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Journalize the transactions for the company. Considering the given transactions only, what are Carlton Video...

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Accounting

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Journalize the transactions for the company. Considering the given transactions only, what are Carlton Video Productions' total liabilities on December 31, 2017? Journalize the transactions for the company. Apr. 1, 2016: Purchased equipment costing $56, 000 by issuing a seven-year, 13% note payable. The note requires annual principal payments of $8, 000 plus interest each Apr. 1. (Record debits first, then credits. Select explanations on the last line of the journal entry.) 2016 Apr. 1 Purchased equipment costing $56, 000 by issuing a seven-year, 13% note payable. The note requires annual principal payments of $8, 000 plus interest each Apr. 1. Accrued interest on the note payable. Dec. 31 2017 Apr. 1 Dec. 31 Paid the first installment on the note. Accrued interest on the note payable

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