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Question 3 of 6 < > -/10 1 On June 1, Cullumber Company Ltd. borrows $102.000 from Acme Bank on a 6-month, $102.000, 8%
Question 3 of 6 < > -/10 1 On June 1, Cullumber Company Ltd. borrows $102.000 from Acme Bank on a 6-month, $102.000, 8% note. The note matures on December 1. (a)-(c) (a) Prepare a tabular summary to record the note issued on June 1 (b) (c) Prepare a tabular summary to record adjustment on June 30 Prepare a tabular summary to record the repayment at maturity (December 11, assuming monthly adjustments have been Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Cash Notes Pay Liabilities Interest Pay ING 900 317 PM. 2002-06 17
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