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1. Auso Company recently experienced a temorary delay in cash colletions and needed to borrow $100,000 on November 1 of the current year to pay

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1. Auso Company recently experienced a temorary delay in cash colletions and needed to borrow $100,000 on November 1 of the current year to pay trade accounts payable. The six-month, 6% note and interest are due on May 1 of the following year. Auso has a December 31 fiscal year- end. What are the required journal entries to record the issuance of the note, accrued interest, and the payment of principal and interest at maturity? Besin by preparing journal entry to record the issuance of the note. ACCOUNT DEBITCREDIT Next, record the accrued interest payable. ACCOUNT DEBIT CREDIT Finally, record the payment of principal and interest at maturity. ACCOUNT DEBIT CREDIT

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