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On January 15, 2021, Craig Company received a two-month, 9%, $9,000 note from William Pentel for the settlement of his open account. The entry by

On January 15, 2021, Craig Company received a two-month, 9%, $9,000 note from William Pentel for the settlement of his open account. The entry by Craig Company on January 15, 2021, would include a:

Answer: debit of $9,000 to notes receivable.

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