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On May 1, 2010, a company lends $100,000 to one of its main suppliers and accepts a 12-month, 6% note. Record the acceptance of the

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On May 1, 2010, a company lends $100,000 to one of its main suppliers and accepts a 12-month, 6% note. Record the acceptance of the note on May 1, 2010, the adjusting entry on December 31, 2010, and cash collection on May 1, 2011

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