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On January 1, $64,000 cash is borrowed from a bank in return for a 7% installment note with 24 monthly payments of $2,865 each (Round

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On January 1, $64,000 cash is borrowed from a bank in return for a 7% installment note with 24 monthly payments of $2,865 each (Round your answers to the nearest whole dollars.) 1. Prepare the journal entry to record the issuance of the note 2. Prepare the journal entry to record the first monthly interest payment View transaction list Journal entry worksheet

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