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27 Sanborn Company signed a discounted 10%, 30 day promissory note to Chase Bank in exchange for $10,000. What is the journal entry to record

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27 Sanborn Company signed a discounted 10%, 30 day promissory note to Chase Bank in exchange for $10,000. What is the journal entry to record this entry? (Round to the nearest dollar) a. Debit Cash $9,918 82 Debit Interest expense Credit Notes Receivable $10 000 b. Debit Notes Payable $10,000 Credit Cash $10,000 C. Debit Cash $10,000 Credit Notes Payable $10,000 d. Debit Cash $9,918 82 Debit Interest expense Credit Notes Payable $10,000

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