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On January 1, a customer asked your company to convert the $200,000 they owe to a promissory note. The $200,000 principal, plus 8% interest will

On January 1, a customer asked your company to convert the $200,000 they owe to a promissory note. The $200,000 principal, plus 8% interest will be due in six months.

What is the entry when the note is paid if your company has a year-end of December 31?

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