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In Questions 1 and 2 prepare the journal entries for the following transactions. (1) September 15, 2011 Your company, RDV Sports borrowed $20,000 from FirstBank.

In Questions 1 and 2 prepare the journal entries for the following transactions.

(1)

September 15, 2011 Your company, RDV Sports borrowed $20,000 from FirstBank. The note has an interest rate of 12% and is due in 60 days.

(2)

Record the payment of the note

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