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Current Attempt in Progress At December 31, 2021, Crane Company had a five-month, 4%, $86,400 note receivable that was issued on October 1, 2021 Interest
Current Attempt in Progress At December 31, 2021, Crane Company had a five-month, 4%, $86,400 note receivable that was issued on October 1, 2021 Interest and principal are payable at maturity on March 1, 2022 Prepare the March 1, 2022, entry to record the receipt of cash at maturity for the note. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts Round answers to O decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Mar. 1 Cash Notes Receivable Interest Revenue To record collection of note and interest)
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