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Branch Corporation issued $20 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 11% discount rate.
Branch Corporation issued $20 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 11% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance of the commercial paper. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Branch Corporation issued $20 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 11% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 3 > Record the interest expense on the note at maturity. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Branch Corporation issued $20 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 11% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the repayment at maturity. Note: Enter debits before credits. General Journal Debit Credit Transaction 3
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