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On March 1 , 2 0 X 1 , Taylor Corp. received a $ 2 5 , 0 0 0 , 1 2 - month,

On March 1,20X1, Taylor Corp. received a $25,000,12-month, 12% note in exchange for services provided to a customer.
The note's face value plus interest will be due when the note matures on March 1,20X2.

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