Question 5 [10 points] Stake Technology Inc borrowed $25 000 on August 1 2014 for 45 days

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Question 5 [10 points] Stake Technology Inc borrowed $25 000 on August 1 2014 for 45 days at 7. interest by signing a note a) Determine the date the note matures and calculate how much interest expense is generated by this note Dates must be entered in the format dd/mmm (re 15/Jan) Round all values to two decimal places On what day will this note mature? How much interest expense is created by this note? b) Prepare Stake Technology Inc 's journal entries on August 1 2014 and the maturity date Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format dd/mmm (ie January 15 would be 15/Jan) General Journal Page GJ2 Date Account/Explanation F Debit Credit

Posted Date: Jun 24, 2024 01:07 AM

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Question 5 [10 points] Stake Technology Inc borrowed $25 000 on August 1 2014 for 45 days

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