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Frank makes a $25,000, 90-day, 7% cash loan to Clayborn Co. (1) Prepare the journal entry to record this transaction. (2) What is the amount

Frank makes a $25,000, 90-day, 7% cash loan to Clayborn Co. (1) Prepare the journal entry to record this transaction. (2) What is the amount of interest that Frank will collect on the loan?

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