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Obtained a loan of $19,000 from Uncle Antonio (a family relative of Imogen Bragg) at a simple interest rate of 10% per year, Check No.
Obtained a loan of $19,000 from Uncle Antonio (a family relative of Imogen Bragg) at a simple interest rate of 10% per year, Check No. 151, Receipt No. 6171. The principal and interest on the loan are payable in six months time.
Whats the journal entry?
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