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Chapter 8 Homework Hand-out Instructions: Prepare the journal entries to record the following events for the McLain Company: Septermber 1, 2016 McLain Company loaned $25,000

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Chapter 8 Homework Hand-out Instructions: Prepare the journal entries to record the following events for the McLain Company: Septermber 1, 2016 McLain Company loaned $25,000 cash to The Goodwin Company on a 9-month, 12% note. December 31, 2016 Recorded accrued interest for the note. June 1, 2017 Received principal and interest on the Goodwin

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