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On November 1, Alan Company signed a 120-day, 9% note payable, with a face value of $48,000. Alan made a December 31 year-end accrual for

On November 1, Alan Company signed a 120-day, 9% note payable, with a face value of $48,000. Alan made a December 31 year-end accrual for interest earned. What is the journal entry as of March 1 to record the payment of the note? (Use 360 days a year.)

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