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Norris Company converted a $4,700 account payable to a 6%, 60 day, note payable. Assuming a 360 day year for interest calculations, what journal entry

Norris Company converted a $4,700 account payable to a 6%, 60 day, note payable. Assuming a 360 day year for interest calculations, what journal entry will Norris make to record the transaction

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