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Louvers, Incorporated, accepted a $ 1 5 , 0 0 0 , 1 8 0 - day, 1 0 percent note from a customer on

Louvers, Incorporated, accepted a $

15, 000, 180 -

day,

10

percent note from a customer on May

31 .

On June

30,

Louvers prepared a period

-

end adjusting entry to accrue the $

125

of interest owed on the note. The note is honored on November

27 .

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