Homework Answers
| Date | Accounts | Debit | Credit |
| December 31, 2017 | Cash | $9,000,000 | |
| Notes Payable | $9,000,000 | ||
| December 31, 2018 | Interest Expense (9,000,000*5%*1) | 450000 | |
| Notes Payable (722183-450000) | 272183 | ||
| Cash | 722183 | ||
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