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Problem 1- Note Payable Transactions You are Peterson Corporation, a company that sells merchandise to customers. Journalize the four transactions below Assume each year has

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Problem 1- Note Payable Transactions You are Peterson Corporation, a company that sells merchandise to customers. Journalize the four transactions below Assume each year has 360 days and each month has 30 days. You borrowed $54,000 as a short-term loan from Dakota Bank and issued a 90-day, 10% discounted note to the bank Debit Credit Account Date 43600 Cash Intrest expense hote poyaole 1/1 5400 G4,000 You issued a 30-day, 12% note for $28,800 to a Platinum Company, a vendor that you owed on account, and have now assumed a short-term interest-bearing loan. Credit Debit Date Account 25,K00 1/1 Cose 28.800 note pauanle You repay the note to Platinum Company. Debit Credit Account Date Inote payable Intrest expense Cosh 1/31 3456 32.2516 You repay the note to Dakota Bank. Credit Debit Date Account Inote payable Cash 54000 3/31 E4000 3

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