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On May 1, 2019, ACME Bank agreed to lend Mirza Enterprises $100,000. Mirza signed a $100,000, 10-month, 12% per annum note. Mirza Enterprises has a
On May 1, 2019, ACME Bank agreed to lend Mirza Enterprises $100,000. Mirza signed a $100,000, 10-month, 12% per annum note. Mirza Enterprises has a year end of December 31. Required Prepare the journal entries for Mirza Enterprises for the following. a) On the date the note was signed b) At year end c) On March 1, 2020, when the note is repaid Date Account Title and Explanation Debit Credit
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