On December 31st, 2017, Daniels Sportsplex opened for business. The company borrowed $18,000,000 at 8% and signed a 10 year note that is to be repaid in 19 equal semiannual payments of $975,000 on June 30th and December 31st, with a balloon payment at maturity. Use the financial statement effects template below to record the issuance of the note and the payments of the first four installments

Question

On December 31st, 2017, Daniels Sportsplex opened for business. The company borrowed $18,000,000 at 8% and signed a 10 year note that is to be repaid in 19 equal semiannual payments of $975,000 on June 30th and December 31st, with a balloon payment at maturity. Use the financial statement effects template below to record the issuance of the note and the payments of the first four installments
On December 31st, 2017, Daniels Sportsplex opened for business. The company borrowed $18,000,000 at 8% and signed a 10 year note that is to be repaid in 19 equal semiannual payments of $975,000 on June 30th and December 31st, with a balloon payment at maturity. Use the financial statement effects template below to record the issuance of the note and the payments of the first four installments

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The Answer of On December 31st, 2017, Daniels Sportsplex opened for business. The company borrowed $18,000,000 at 8% and signed a 10 year note that is to be repaid in 19 equal semiannual payments of $975,000 on June 30th and December 31st, with a balloon payment at maturity. Use the financial statement effects template below to record the issuance of the note and the payments of the first four installments

On December 31st, 2017, Daniels Sportsplex Opened for Business