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5. Willingham Company had the following transactions Involving notes payable. Aug 1, 2017 Borrows $200,000 from Fourth National Bank by signing a 9-month, 12% note.

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5. Willingham Company had the following transactions Involving notes payable. Aug 1, 2017 Borrows $200,000 from Fourth National Bank by signing a 9-month, 12% note. Dec. 1, 2017 Borrows $120,000 from Arkansas State Bank by signing a 3-month, 10% note. Dec 31, 2017 Prepares adjusting entries. . .Mar 1, 2018 Pays principal and interest to Arkansas State Bank May 1, 2018 Pays principal and interest to Fourth National Bank Instructions pare journal entries for each of the transactions

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