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Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal

Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity.Exercise 5-17 (Static) Part b (1)b-1. Prepare the horizontal model to record collection of the note and interest at maturity.

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