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1. On April 18, Valley Sports gave a 120-day note payable to Slick Snowboards, instead of cash payment of an overdue account. The amount of
1. On April 18, Valley Sports gave a 120-day note payable to Slick Snowboards, instead of cash payment of an overdue account. The amount of the note was $185,000 at an interest rate of 11%. Prepare the journal entry on Valley Sports books to record the note payable Step by Step Solution
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Survey of Accounting
Authors: Carl S. Warren
8th edition
1305961889, 978-1337517386, 1337517380, 978-1305961883
