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Jake s Auto Repair received a $ 3 , 0 0 0 , 9 0 day, 1 0 % promissory note from Samantha in exchange

Jake

s Auto Repair received a $

3, 000, 90

day,

10 %

promissory note from Samantha in exchange for auto repairs. After

90

days, Samantha is unable and refuses to pay Jake

s Auto Repair $

3, 075 (

3, 000

to repay the note and $

75

in interest.

)

What journal entry should Jake

s Auto Repair making regarding Samantha dishonoring the note?

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