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Forrett Company borrowed $100,000 on October 1, 2023, by signing a $100,000, 8%, 4-month note. Required: Record the issuance of the note, the adjusting journal

Forrett Company borrowed $100,000 on October 1, 2023, by signing a $100,000, 8%, 4-month note.

Required: Record the issuance of the note, the adjusting journal entry for year-end on 12/31/23, and the repayment of the note on 2/1/24

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