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On November 1, 2019, Provincial Importers loaned $10,000 cash to Clayton Schaffer on a one-year, 5 percent note Record the loan transaction and any year-end

On November 1, 2019, Provincial Importers loaned $10,000 cash to Clayton Schaffer on a one-year, 5 percent note Record the loan transaction and any year-end transactions for Provincial. Begin by recording the loan. (Record debits first, then credits. Exclude explanations from journal entries.)

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