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Exam.-14 and 15 are based on the following. XYZ Company issued an interest bearing note of $10,000.30 days from the date, at face value in

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Exam.-14 and 15 are based on the following. XYZ Company issued an interest bearing note of $10,000.30 days from the date, at face value in settlement of an account payable. The face rate of annual interest for the note was 9.0% Exam.-14 (a) When XYZ Company issued the note. Which of the following journal entries should it make? Exam.-15 (b) When XYZ Company settled the note. Which of the following journal entries should it make? Assume that 1 year =360 days

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