Lemke Incorporated borrowed $80,000 on January 1,2024 , and signed a 3-year, 4% installment note...
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Lemke Incorporated borrowed $80,000 on January 1,2024 , and signed a 3-year, 4% installment note to b paid in 3 equal payments, with a payment made at the end of each year. What is the amount of Lemke Incorporated's payment? [2 points] \$ Prepare the journal entry for Lemke Incorporated's second payment, made on December 31, 2025. [3 points]
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