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E10-1 (Algo) Determining Financial Statement Effects of Transactions Involving Notes Payable [LO 10-2] Many busioesses bortow money during peeods of increaked busiocss activity to finance

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E10-1 (Algo) Determining Financial Statement Effects of Transactions Involving Notes Payable [LO 10-2] Many busioesses bortow money during peeods of increaked busiocss activity to finance inventory and occounts recevable for example. Mat Comoration bulds up is inventory to meet the needs of retaless selsing to Chrisemas shoppecs. A Large portion of Mitt in six month. The interestrate was 1000 percent payatile at motuity the accountiog peicd ends December 3 . Required: intermediote colculotions. Eater your onswers in whole dellars. Enter ney decrenses to assets, liabalities, or stockholders equify with a minus sign.)

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