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Auto Loan South makes a$52,000,180-day,4%cash loan to Smith's Auto Shop. Required: (1)Prepare the journal entry to record this transaction. (2)What is the amount of interest

Auto Loan South makes a$52,000,180-day,4%cash loan to Smith's Auto Shop.

Required:

(1)Prepare the journal entry to record this transaction.

(2)What is the amount of interest that Auto Loan South will collect on the loan?

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