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2 The Working Company purchased inventory in the amount of $33,000 and signed a four month note. The note has an annual interest rate of
2 The Working Company purchased inventory in the amount of $33,000 and signed a four month note. The note has an annual interest rate of 4.5%. The inventory was purchased on November 1 and the total amount owed must be paid at the end of four months. Required Record the journal entry when the inventory is purchased Record the journal entry for November 30. Record the journal entry when the total amount is paid. B
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