A business issued a 45-day note for $90,000 to a creditor on account. The note was discounted

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A business issued a 45-day note for $90,000 to a creditor on account. The note was discounted at 8%. Journalize the entries to record

(a) The issuance of the note

(b) The payment of the note at maturity.

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Feb 28, 2014 08:42 AM

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A business issued a 45-day note for $90,000 to a creditor on account. The note was discounted

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Corporate Financial Accounting

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