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Entries for Discounting Notes Payable Ramsey Company issues an $708,000, 60-day note to Buckner Company for merchandise inventory. Buckner discounts the note to Assume a

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Entries for Discounting Notes Payable Ramsey Company issues an $708,000, 60-day note to Buckner Company for merchandise inventory. Buckner discounts the note to Assume a 360-day year. For a compound transaction, an amount box does not require an entry, leave it bank a. Journaline Ramsey's entries to record 1. the issuance of the note 2. the payment of the note at maturity 1

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