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A business borrowed $50,812 on March 1 of the current year by signing a 30 day, 7% interest bearing note. Assuming a 360-day year, when

A business borrowed $50,812 on March 1 of the current year by signing a 30 day, 7% interest bearing note. Assuming a 360-day year, when the note is paid on March 31, the entry to record the payment should include a

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