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Question 3 Wellington Company had the following transactions involving notes payable. Nov. 1, 2017 Dec. 31, 2017 Borrows $180,000 from Olathe State Bank by signing

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Question 3 Wellington Company had the following transactions involving notes payable. Nov. 1, 2017 Dec. 31, 2017 Borrows $180,000 from Olathe State Bank by signing a 3-month, 10% note. Prepares the adjusting entry. Feb. 1, 2018 Pays principal and interest to Olathe State Bank. Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

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