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Instruction A business issued a 30-day, 7% note for $50,400 to a creditor on account. The company uses a 360-day year for interest calculations. Required:

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Instruction A business issued a 30-day, 7% note for $50,400 to a creditor on account. The company uses a 360-day year for interest calculations. Required: Joumalize the entries to record (a) the issuance of the note on April 30 and (b) the payment of the noto at maturity, including interest. Refer to the Chart of Accounts for exact wording of account titles Journalize the entries to record (a) the sounds of the note on April 30 and (b) Mhe payment of the noto at maturity, including interest. Mater to the Chart of Accounts for exact wording of accou ME: JOURNAL DATE DESCRIPTION POST REF DESIT CREDIT 5

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