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Morgan Corp. makes a loan to Marie Co. and receives in exchange a four-year, $10,000 note bearing interest at 8 percent annually. The market rate
Morgan Corp. makes a loan to Marie Co. and receives in exchange a four-year, $10,000 note bearing interest at 8 percent annually. The market rate of interest for a note of similar risk is 11 percent. Prepare the journal entry to record the receipt of the note. Round the nearest $1 Accounts Debits Credits [ Select ] V [ Select] Select]
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