A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted
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A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted at 5%. Journalize the entries to record
(a) The issuance of the note
(b) The payment of the note at maturity.
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Related Book For
Financial Accounting
ISBN: 9781337913102
16th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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