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Exercise 10-2 On June 1, Merando Company borrows $145,650 from First Bank on a 6-month, $145,650, 8% note. Prepare the entry on June 1. (Credit
Exercise 10-2 On June 1, Merando Company borrows $145,650 from First Bank on a 6-month, $145,650, 8% note. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 Prepare the entry at maturity December 1 assuming monthly adjusting entries have been made through Novem e 30 indented when amount is entered. Do not indent manually.) Credit account tit es are automatica Date Account Titles and Explanation Deblt Credit Dec. 1
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