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Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300
Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on December 31, 2022. The proceeds of the note were $116,100. 1. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. 2. Record the journal entry to show the effects of recording interest expense for the month of September. 3. Record the journal entry to show the effects of repaying the note on December 31, 2022. Complete this question by entering your answers in the tabs below. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1,2022. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the proceeds of a short-term note payable (discount basis). Note: Enter debits before credits. Journal entry worksheet Record the journal entry to show the effects of repaying the note on December 31,2022 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the repayment of the short-term note. Note: Enter debits before credits
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