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On April 1. Year 1, a company realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting the company's

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On April 1. Year 1, a company realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting the company's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. The company agrees to lend $430,000 to its supplier using a 12-month, 10% note, Record the loan of $430,000 and acceptance of the note receivable on April 1, Year 1. Note: Enter debits before credits. Date General Journal Debit Credit April 01 Record entry Clear entry View general Journal Record the adjusting entry for accrued interest. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record the cash collection. Note: Enter debits before credits. Date General Journal Debit Credit April 01

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