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due on January 1, 2024. The market rate of imerest for transactions of this type was 5% Required Prepare the journal entry to record the

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due on January 1, 2024. The market rate of imerest for transactions of this type was 5% Required Prepare the journal entry to record the sale of the ring. Assume that the inventoriable cost of the ring was $2,700. blank. Round amounts to the nearest dollar.)

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