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On December 1 , The Company borrowed 4 5 0 0 0 on a 9 0 - day, 1 4 . % note. Prepare the

On December

1,

The Company borrowed

45000

on a

90 -

day,

14 . %

note.

Prepare the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note.

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