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pleas solve parts A and B A business issued a 90 - day, 2% note for $52,000 ta a creditor on account. Hluttrate the elfects
pleas solve parts A and B
A business issued a 90 - day, 2% note for $52,000 ta a creditor on account. Hluttrate the elfects on the accounts and finalial statements of recording (a) the issuance of the rote and (b) the payment of the note at maturity, including interest If no account or activity is alfected, select "No elfect" from the droptown list and leave the correspond mg number entry box bliank, Enter account decreases and cast outhows as negative amounish. a. Illustrate the effects on the accounts and financial statements of recording the issuance of the note b. Hustrate the elfects on the accounts and financial statements of tecording the patyment of the hote at maturity, including anterest. Assume an Jco day yeak. If required, cound interest expense to the nearost whole number. b. Hlustrate the effects on the accounts and financial statements of recorifng the poyment of the note at matunty, inctudirg interest. Assurte a 360-day year, if requced, round interest expense to the nearest ahole number Step by Step Solution
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