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If a customer defauts (doosnt pay) on a $20,000 Accounts Roceivable and Levine decides to replace if with a 16 month 6% Note on 8/31/2025.

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If a customer defauts (doosnt pay) on a $20,000 Accounts Roceivable and Levine decides to replace if with a 16 month 6% Note on 8/31/2025. Show the entry to collect when the Note comes due 12/31/2026. Note: Levine uses a banker's rule for the year (360 days). Round ONLY your final answer to the nearest dollat. Hint Consider the adjusting entry on 1231/2025

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