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On March 1,Mercer Inc. borrows $12,000 from a bank on a 6 month note with 6% interest. What journal entry should Mercer Inc. make to
On March 1,Mercer Inc. borrows $12,000 from a bank on a 6 month note with 6% interest. What journal entry should Mercer Inc. make to record this transaction? Dr Cr What effect does this entry have on the accounting equation? Assets LiabilitiesEquity On September 1, the company pays the note and interest due. What journal entries should Mercer Inc. make to record this transaction? Dr Dr Cr What effect does this entry have on the accounting equation? Assets iailitiesEquity
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