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4) Tarheel Services is holding a note receivable from one of its customers and wishes to collect the cash earlier than the maturity date of

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4) Tarheel Services is holding a note receivable from one of its customers and wishes to collect the cash earlier than the maturity date of the note. The note is for $1,000 and carries a rate of 4%. Tarheel sells the note to a bank for S 1,080, Please provide the journal entry with Tarheel makes to record this transaction

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