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On August 2, Jun Co. receives a $7,900, 90-day, 10.5% note from customer Ryan Albany as payment on his $7,900 account receivable Prepare Jun's journal

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On August 2, Jun Co. receives a $7,900, 90-day, 10.5% note from customer Ryan Albany as payment on his $7,900 account receivable Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.) No Date Answer is not complete. General Journal Notes receivable-R Albany Accounts receivable-R Albany Credit Debit 7,071 % 1 Oct 31 7,900

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