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On November 1 , 2 0 2 0 R and Co . borrowed $ 6 . 3 million cash from its vendor and signed a

On November 1,2020 R and Co. borrowed $6.3 million cash from its vendor and signed a promissory note that matures in six months. The interest rate was 6.9 percent payable at maturity. The accounting period ends December 31.
Required:
1. Prepare the journal entry to record the note on November 1,2020.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)
2. Prepare any adjusting entry required on December 31,2020.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)
3. Prepare the journal entry to record payment of the note and interest on the maturity date, April 30,2021, assuming that interest has not been recorded since December 31,2020.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Combine all needed JEs in this transaction into one. Remember to show Dr before Cr.

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