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On May 1, Cartman Company borrows $ 100,000 from South Park Provincial Bank by signing a 6-month, 6%, interest-bearing note. Cartman's year end is August

On May 1, Cartman Company borrows $ 100,000 from South Park Provincial Bank by signing a 6-month, 6%, interest-bearing note. Cartman's year end is August 31. Prepare the journal entries associated with the note payable on the books of Cartman Company for the following dates. May 1 0 0 Aug 31 Oct 31 (Notes Payable) 0 0 Oct 31 (Interest Payable) 0 0 Oct 31 (Interest Expense) = 0 0 May 1 4 4 4 4 Aug 31 Oct 31 (Notes Payable) Oct 31 (Interest Payable) 4 4 4 Oct 31 (Interest Expense)

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