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it said all of the entries were invalid except for cash in the first journal entry. please help On October 1, Eder Fabrication borrowed $82
it said all of the entries were invalid except for cash in the first journal entry. please help
On October 1, Eder Fabrication borrowed $82 million and issued a nine-month, 13% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list View journal entry worksheet No Event Credit General Journal Cash Discount on notes payable Notes payable Debit 74,005,000 7,995,000 82,000,000 22 82,000,000 5,330,000 Notes payable Interest expense Cash Discount on notes payable 82,000,000 5,330,000Step by Step Solution
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