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Chapter 8 problem 2 On September 1 , 2 0 2 4 , Hare Today pet - supply store Co . borrowed $ 7 0

Chapter 8 problem 2
On September 1,2024, Hare Today pet-supply store Co. borrowed $7000 from Gone Tomorrow Bank, signing a 6-month, 12-percent note. Interest is to be paid at maturity. Hare Today and Gone Tomorrow both have a December 31 year-end.
Part 1: Kecord the journal entry for the transaction for Hare Ioday, the borrower, on september 1,20?4. It more than one debit or credit is needed, place them in alphabetical order based on the account names. Round final answers to the second decimal place (ie to the penny).
\table[[\table[[\table[[Date],[1-Sep]]]],A,L,SE,R,E,NI,CF,Account,?bar(DR),CR],[,,,,,,,,,,]]
Part 2: Prepare the appropriate adjusting entry, if needed, for Hare Today on December 31,2024. If more than one debit or credit is needed, place them in alphabetical order based on the account names.
Round final answers to the second decimal place (ie to the penny).
\table[[Date,A,L,SE,R,E,NI,CF,Account],[31-Dec,,,,,,,,]]
Part 3: Record the entry at maturity to repay the note at maturity on March 1,2025. If more than one debit or credit is needed, place them in alphabetical order based on the account names.
\table[[Date,A,L,SE,R,E,NI,CF],[1-Mar,,,,,,,]]
\table[[Account,DR,CR],[,,],[,,],[,,]]
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