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A business issued a 60-day, 5% note for $99,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note
A business issued a 60-day, 5% note for $99,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar Step by Step Solution
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Electronic Data Processing Controls And Auditing
Authors: W.Thomas Porter
1st Edition
0534009336, 978-0534009335
