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on July 1 2020 Sheffield company made a $39,900 sale to a customer and accepted a noninterest-bearing note due June 30, 2022. A rate of

on July 1 2020 Sheffield company made a $39,900 sale to a customer and accepted a noninterest-bearing note due June 30, 2022. A rate of 9% is reasonable for this type of transaction. Prepare all journal entries.

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