Lantana Bank & Trust Company lent $100,000 to Ben Milam on a 90-day, 10% note. Record the
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Lantana Bank & Trust Company lent $100,000 to Ben Milam on a 90-day, 10% note. Record the following transactions for the hank (explanations are not required):
a. Lending the money on May 6.
b. Collecting the principal and interest at maturity. Specify the date. For the computation of interest, use a 360-day year.
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