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3. Part A: 25 Marks On 1 November 2014 Morelife Manufacturing arranged a $22,000 note receivable for a customer who was having issues paying an
3. Part A: 25 Marks On 1 November 2014 Morelife Manufacturing arranged a $22,000 note receivable for a customer who was having issues paying an account receivable. The life of the note was 90 days, with an interest rate of 9%/annum. Assume the annual accounting period ends on December 31st and reversing entries are not performed. Assume a 365 day year. You are required to show all the necessary general journal entries to record the above information to ensure that the issue and maturity of the note are properly reported for Morelife Manufacturing (Show calculations in your answer)
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