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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. Cartmans 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. Cartmans 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 Aug 31 Oct 31 (Notes Payable) Oct 31 (Interest Payable) Oct 31 (Interest Expense)

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