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Problem 7 Record the journal entries for the following transactions: Dec. I Received a 3 month note, 12% interest, for $30,000 from Neevan Company. Dec.

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Problem 7 Record the journal entries for the following transactions: Dec. I Received a 3 month note, 12% interest, for $30,000 from Neevan Company. Dec. 31 Record the adjusting journal entry to record the interest on fiscal year end. Mar. I Received the amount due from Neevan Company

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