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On November 1 Year 1 a company borrows $54.000 cash from Community Savings and Loan. The company signs a three-month, 7% note payable Interest is

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On November 1 Year 1 a company borrows $54.000 cash from Community Savings and Loan. The company signs a three-month, 7% note payable Interest is payable at maturity. The company's year-end 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 fleld.) View transaction list Journal entry worksheet Record the issuance of note. Note: Enter debits before credits Date General Journal Debit Credit November 01 Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry for Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal Journal entry worksheet Record the repayment of the note at maturity. Note: Enter debits before credits General Journal Debit Credit Date February 01 Record entry Clear entry View general journal

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