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On December 1, 2021 Lansing Company accepted a three-month, 10% note for $10,000 tom one of its customers, Joshua Smith, to settle a past due

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On December 1, 2021 Lansing Company accepted a three-month, 10% note for $10,000 tom one of its customers, Joshua Smith, to settle a past due account receivable What journal entry should the company make to record its acceptance of the note on December 1 2027

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