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Notes Receivable Fast Equipment Company received an $8,000, six-month, 6 percent note to settle an $8,000 unpaid balance owed by a customer. Prepare journal entries

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Notes Receivable Fast Equipment Company received an $8,000, six-month, 6 percent note to settle an $8,000 unpaid balance owed by a customer. Prepare journal entries to record the following transactions for Fast. Rather than use letters to reference each transaction, use the date of the transaction. a. The note is accepted by Fast on November 1, causing the company to increase its Notes Receivable and decrease its Accounts Receivable. b. Fast adjusts its records for interest earned to its December 31 year-end. c. Fast receives the interest on the note's maturity date. d. Fast receives the principal on the note's maturity date

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