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Rob Judson Company had the following transactions involving notes payable. July 1, 2008 Borrows $50,000 from Third National Bank by signing a 9-month, 12% note.

Rob Judson Company had the following transactions involving notes payable. July 1, 2008 Borrows $50,000 from Third National Bank by signing a 9-month, 12% note. November 1,2008 Borrows $60,000 from DeKalb State Bank by signing a 3-month, 10% note. December 31, 2008 Prepares adjusting entries. February 1, 2009 Pays principal and interest to DeKalb State Bank. April 1, 2009 Pays principal and interest to Third National Bank. Instructions

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