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On March 1, the Levers Company borrows $90,000 from New National Bank by signing a 6-month, 12%, interest-bearing note. Instructions: Prepare the necessary entries below

On March 1, the Levers Company borrows $90,000 from New National Bank by signing a 6-month, 12%, interest-bearing note. Instructions: Prepare the necessary entries below associated with the note payable on the books of Levers Company. Prepare the entry on March 1 when the note was issued.

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