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please follow the template that is provided, and it's for october 1, so don't just follow other answers that were posted!! The following are selected
please follow the template that is provided, and it's for october 1, so don't just follow other answers that were posted!!
The following are selected 2023 transactions of Marigold Corporation. Sept. 1 Purchased inventory from Monty Ltd. on account for $42,800. Marigold uses a periodic inventory system. Oct. 1 Issued a $42,800,12-month, 9% note to Monty in payment of Marigold's account. 1 Borrowed $76,800 from the bank by signing a 12 -month, non-interest-bearing $80,900 note. (a) Prepare the journal entries for the payment of the notes at maturity. Assume no other accruals of interest were recorded since the December 31, 2023 year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Step by Step Solution
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