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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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