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A $35,000, 12% one-year note payable was issued on July 31. The balance sheet date is December 31. Required: Prepare the entry at issuance of
A $35,000, 12% one-year note payable was issued on July 31. The balance sheet date is December 31.
Required:
- Prepare the entry at issuance of the note.
- Prepare the entry at December 31.
- Prepare the entry at maturity of the note.
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Core Concepts Of Accounting Information Systems
Authors: Mark G. Simkin, Carolyn A. Strand Norman, Scott Paquette
1st Canadian Edition
