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On November 1, Year 1, a company borrows $47,000 cash from Community Savings and Loan. The company signs a three-month, 6% note payable. Interest is

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On November 1, Year 1, a company borrows $47,000 cash from Community Savings and Loan. The company signs a three-month, 6% note payable. Interest is payable at maturity. The company's yearend is December 31. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of note. Note: Enter debits before credits. 1 Record the issuance of note. 2 Record the adjusting entry for interest. 3 Record the repayment of the note at maturity

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