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On November 1, 2024, Backpacking Training Corporation borrows $47,000 cash from Community Savings and Loan. Backpacking Training signs a three-month, 6% note payable. Interest is

On November 1, 2024, Backpacking Training Corporation borrows $47,000 cash from Community Savings and Loan. Backpacking Training signs a three-month, 6% note payable. Interest is payable at maturity. Backpackings year-end is December 31.

1- Record the issuance of note

2- Record the adjusting entry for interest

3- Record the repayment of the note and payment of interest at maturity

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