=+21. Loaned $7,500 cash to Jill Klein, receiving a 90-day, 14% note. May 14. Received the interest
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=+21. Loaned $7,500 cash to Jill Klein, receiving a 90-day, 14% note.
May 14. Received the interest due from Ames Co. and a new 90-day, 14% note as a renewal of the loan. (Record both the debit and the credit to the notes receivable account.)
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