Coldwell Inc Issued A 100000 4year 10 Notes At Face

Coldwell, Inc. issued a $100,000, 4-year, 10% notes at face value to Flint Hills Bank on January 1, 2011, and received $100,000 cash. The note requires annual interest payments each December 31. Prepare Coldwell’s journal entries to record

(a) The issuance of the note and

(b) The December 31 interest payment.

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