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Midway Company has a six-month, $24,000, 3% note receivable from L. Summers that was signed on June 1, 2016. Summers defaults on the loan on

Midway Company has a six-month, $24,000, 3% note receivable from L. Summers that was signed on June 1, 2016. Summers defaults on the loan on December 1. Journalize the entry for Midway to record the default of the loan

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