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Keesha Company borrows $215,000 cash on November 1 of the current year by signing a 120-day, 8%, $215,000 note. 1). Prepare journal entries to record
Keesha Company borrows $215,000 cash on November 1 of the current year by signing a 120-day, 8%, $215,000 note.
1). Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity.
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