On January 1, 2021, Corvallis Carnivals borrows $10,000 to purchase a delivery truck by agreeing to a 6%, three-year loan with the bank. Payments of $304.22 are due at the end of each month, with the first installment due on January 31, 2021. Record the issuance of the note payable and the first monthly payment.

The journal entries are as follows:

(i) On January 1, 2021

Delivery Truck A/c Dr. $10,000

      To 6% loan note payable    $10,000

(To record the issuance of note payable)

(ii) On January 31, 2021

6% loan note payable A/c Dr. $254.22

Interest expense A/c Dr. $50

       To cash                                      $304.22

(To record the first month payment)

Workings:

Interest expense = $10,000 × 6% × (1/12)

                            = $50        

balanced lifestyle would be the type of lifestyle that fulfill all aspects of our life, including financial security, personal achievements, emotional balance, and intimate relationships with other people.

for me personally, the job that i would choose to achieve a balanced lifestyle is opening an online store.

online store can be managed from the comfort of our phone. if we are the owner of the store, we can determine our own working hours. we can arrange our working hours so we have time to do things such as taking care of children, cultivating romantic relationship, or do our hobby.

answer; /// i believe that the correct answer is (covenant;