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8. On May 1, a company provides services to one of its customers for $16,000. As payment for the services, the company accepts a 6-month,

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8. On May 1, a company provides services to one of its customers for $16,000. As payment for the services, the company accepts a 6-month, 12% note from the customer. Record (a) the acceptance of the note receivable on May 1, AND (b) the cash collection of the note principal and interest on October 1

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