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(b) On January 1, 2019 Telephone Co. took out a $700,000, 120-day loan from the bank, with 10% interested. Telephone Co. closes its books only

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(b) On January 1, 2019 Telephone Co. took out a $700,000, 120-day loan from the bank, with 10% interested. Telephone Co. closes its books only once a year, exactly 60 days after the loan was taken out. Provide the journal entries on the following three dates: Issuance of Note Books are Closed Maturity of N ate Show work here

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