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Required: Record the acceptance of the note on May 1,2024, the adjusting entry on December 31,2024, and the cash collection on May 1. 2025. (If

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Required: Record the acceptance of the note on May 1,2024, the adjusting entry on December 31,2024, and the cash collection on May 1. 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Journal entry worksheet 1 Record the collection of cash for notes receivable and interest. Note: Enter debits bofore credits

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