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Instruction On October 1, Ramos Co. signed a S80,000. 00day discounted note at the bank. The discount rate was 6%, and the note was paid

Instruction On October 1, Ramos Co. signed a S80,000. 00day discounted note at the bank. The discount rate was 6%, and the note was paid on November 30. (Assume a 300-day year is used for interest calculations.) Required: (a) Jounalize the entries for October 1 and November 30.* (b) Assume that Ramos Co. signed 6% interest-bearing note. Joumalze the entries for October 1 and November 30. Refer to the Chart of Accounts for exact wording of account toes

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