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Joumalize the following transactions: a. Butler Co, recorded a 180 -day, $11,000 note at 5% for a time extension of a past-due account of Ackerson

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Joumalize the following transactions: a. Butler Co, recorded a 180 -day, $11,000 note at 5% for a time extension of a past-due account of Ackerson Co. b. Collected the Ackerson Co. note on maturity date. c. Assuming Ackerson Co. defaulted in transaction b, record the dishonored note. (Record debits first, then credits. Exclude explanations from journal entries.) a. Butier Co, recorded a 180 -day, $11,000 note at 5% for a time extension of a past-due account of Ackerson Co

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