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On August 1, USPS borrowed $14 million and issued a nine-month zero-interest-bearing notes. $16.7 million was payable at maturity. Prepare the journal entries for 1)

On August 1, USPS borrowed $14 million and issued a nine-month zero-interest-bearing notes. $16.7 million was payable at maturity. Prepare the journal entries for 1) the issuance of the note;2) the appropriate adjusting entry for the note on December 31; 3) the payment day

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