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During 2016, Jackson Company borrowed money at State Bank and Trust on two occasions. On June 8, the company borrowed exist27,000 giving a 120-day, 7

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During 2016, Jackson Company borrowed money at State Bank and Trust on two occasions. On June 8, the company borrowed exist27,000 giving a 120-day, 7 percent note, and on September 8, the company discounted at 7 percent a exist30,000, 90-day note payable. (Use 360 days a year. Do not round intermediate calculations.) Prepare the general journal entry to record issuance of each of these notes

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