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5. Boro Business issued a short-term note payable in exchange for its overdue accounts payable to Lend 7 marks Ltd. The details of the note

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5. Boro Business issued a short-term note payable in exchange for its overdue accounts payable to Lend 7 marks Ltd. The details of the note agreement are as follows: $ Amount of the note Date the note payable was issued (not a leap year) Number of days until the note matures Interest rate on the note payable 10,000 March 1, 2021 45 6% REQUIRED: a) When does Boro Business's note payable mature? b) What is the total interest on this note, from issuance until maturity? c) Prepare the journal entries to record the following for Boro Business: 1) the issuance of the note payable ii) the March 31, 2020 month end accrual iii) the payment of the note payable to Lend Ltd. on the maturity date

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