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A business issued a 60 -day note for $60,000 to a bank. The note was discounted at 8%. Assume a 360 days in a year.
A business issued a 60 -day note for $60,000 to a bank. The note was discounted at 8%. Assume a 360 days in a year. a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. Feedback Check My Work a. Why is the company issuing the note? What type of note is being issued (interest-bearing or discounted)? How much will the company owe on the maturity date
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