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Duggar Consulting systems consulting and also sells accounting software Duggar Consulting believes the company will need to borrow$600 000 in order to expand operations Duggar

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Duggar Consulting systems consulting and also sells accounting software Duggar Consulting believes the company will need to borrow$600 000 in order to expand operations Duggar consults the banks and secures a 4%, six-year note on March 1, 2017. Duggar must pay the bank principal in six installments interest annual on March 1. Record the $600,000 note payable on March 1, 2017. Record the entry to interest due on the note a December 31, 2017. Record the entry Duggar would record the payment to the bank on March 1, 2018. Record the entry to accrue interest due on the note at December 31, 2017. (Record debits then credits. Select the explanation on the last line of the journal entry table.)

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