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Question 19 (1 point) On March 1, 2017 HMK Ltd. sold merchandise to a customer and accepted a one year, non- interest bearing, $75,000 note

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Question 19 (1 point) On March 1, 2017 HMK Ltd. sold merchandise to a customer and accepted a one year, non- interest bearing, $75,000 note from the customer. Similar notes carry an interest rate of 5% in the market. HMK has a December 31 year end and uses the net method to account for notes receivable. Required: Prepare all journal entries for the note(ignore cost of sales). Round your answers to the nearest dollar

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