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Question - Skysong Farms Ltd. needed financing to buy two John Deere tractors. Skysong receives $260,000 on December 31, 2021, when it issues a 10-year, 6% note payable. The terms provide for semi-annual blended instalment payments on June 30 and December 31 in the amount of $18,904.00.
A) Prepare an instalment payment schedule for the first four interest periods.
B) Prepare the journal entries to record the note payable and the first three instalment payments.
C) Provide the balance sheet disclosure for the note payable at December 31, 2022, being specific about the classifications.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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