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Assume, that on March 8, 2021, Starbucks Corporation, borrowed $440 million cash from JP Morgan Chase to meet short-term obligations. Starbucks signed a 6% note
Assume, that on March 8, 2021, Starbucks Corporation, borrowed $440 million cash from JP Morgan Chase to meet short-term obligations. Starbucks signed a 6% note and promised to repay the $440 million in 150 days. All interest will be paid when the note is due. Assume the company records only the two entries: borrowing and payment. Use 360-day year and round your answer to the nearest dollar. Required: 1. Find the maturity date of the note. Maturity date is: 2. Record the issuance of the note on March 8. 3. Record payment of the note and interest at maturity. Account Titles Debit Credit
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