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3. Whiteburst Corporation borrowed $300,000 on June 15th, 2011 and signed a note at 6 percent per year for 1 year. Interest is paid semi-annually.

3. Whiteburst Corporation borrowed $300,000 on June 15th, 2011 and signed a note at 6 percent per year for 1 year. Interest is paid semi-annually. Record the journal entries on June 15th, any adjusting entry on December 31st if needed, and repayment of the loan and interest

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