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kaiser company purchased a building and land with a fair market value of 500000 building 400000 and land 100000 on january 1 201/

Requirements
1. Journalize the note issuance on January 1, 2014 (explanations are not required).
2. Prepare an amortization schedule for the first two payments.
3. Journalize the first payment on January 31, 2014 (do not round).
4. Journalize the second payment on February 28, 2014 (do not round).

 

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