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On November 1, Hawaiian Cruise Lines borrows $2.3 million and issues a six-month, 9% note payable. Interest is payable at maturity. How would the issuance

On November 1, Hawaiian Cruise Lines borrows $2.3 million and issues a six-month, 9% note payable. Interest is payable at maturity.

How would the issuance of the note on November 1 and the recognition of interest on December 31 affect the financial statements?

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