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Brown Company is having difficult paying off their suppliers. Fortunately, one of their suppliers has agreed to convert the amounts owing into a note payable.

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Brown Company is having difficult paying off their suppliers. Fortunately, one of their suppliers has agreed to convert the amounts owing into a note payable. The note payable is issued on September 1, 2020 for an amount of 556,000, and is due 12 months from now with an interest rate of 3% per year, Brown Inc. has a December 31 year end Do not enter dollar s1904 or commas in the input boxes Round your answers to the nearest whole della For transactions with more than one debit enter the accounts in alphabetical orders Date Account Title and Explanation Debit Credit Sep 1 To convert accounts payable to a note Dec 31 To record interest accrued Aug 31 . To record the payment of note payable

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