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Al-Hashar Co... borrowed OR32 million cash on October 1, 2020. The loan was made by Bank Muscat under a short-term credit line. Al-Hashar issued a

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Al-Hashar Co... borrowed OR32 million cash on October 1, 2020. The loan was made by Bank Muscat under a short-term credit line. Al-Hashar issued a 10-month, 11% promissory note with interest payable at maturity. Al-Hashar financial period is the calendar year. 1. The journal entry for the issuance of the noto by Al-Hasharis 32.000.000 Notes payable Cash 32,000,000 Cash 39.000.000 Notes payable 32,000,000 28.480.000 Notes payable Cash 180.000 Cash 28.480.000 Notes payable 28.480,000 2 The adjusting entry for the note by Al-Hashar on December 31, 2020 586,667 Interest expense cash 586.567 380.000 Interest expense Interest payable 0.000 380,000 Interest payable Interest expense 380.000 586.567 Interest expense Interest payable 586,667 3 The journal entry for the payment of the note at matun Interest exponse Interest payable Notes payable Cash 34.933333 2.540 000 293.333 32 000 000 Interest expense Interest payable Notes payable Cash 34,833.333 2055333 880.000 32.000.000 2.833 333 32.000.000 Interest expense Notes payable Cash 34,933 333 880.000 1.760333 32.000.000 Interest expense Interest payable Notes payable Cash 34,640 333 y

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