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On October 1 , the Humpback Company accepted a $ 5 0 , 0 0 0 , 6 0 day, 9 % promissory note in

On October

1,

the Humpback Company accepted a $

50, 000, 60

day,

9 %

promissory note in exchangeck for an overdue account receivable balance for the same amount from the Schwartz Company. On November

30,

the Schwartz Company dishonored the note. What journal entry should be recorded on November

30 ?

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