A business issued a 60-day note for $75,000 to a creditor on account. The note was discounted

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A business issued a 60-day note for $75,000 to a creditor on account. The note was discounted at 7%. Journalize the entries to record
(a) The issuance of the note and
(b) The payment of the note at maturity?

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

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

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Question Posted: May 22, 2017 09:55 AM

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A business issued a 60-day note for $75,000 to a creditor on account. The note was discounted

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Financial And Managerial Accounting

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