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On August 1, 2013, Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $143,765. The note is
On August 1, 2013, Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $143,765. The note is due in 90 days and has an Interest rate of 9%. What would be the appropriate Journal entry to record the receipt of cash at the maturity date
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