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Business, 05.07.2021 19:50 mdaniella522

On March 1, 2018, Lewis Services issued a 5% long-term notes payable for $25,000. It is payable over a 5-year term in $5,000 principal installments on March 1 of each year, beginning March 1, 2019. Which of the following entries needs to be made on March 1, 2018? A. Long - Term Notes Payable 25,000
Accounts Payable 25,000
B. Long - Term Notes Payable 5,000
Cash 5,000
C. Cash 25,000
Long - Term Notes Payable 25,000
D. Current Portion of Long - Term Notes Payable 25,000
Long - Term Notes Payable 25,000

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On March 1, 2018, Lewis Services issued a 5% long-term notes payable for $25,000. It is payable over...
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