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Sam Co. lent money to Fry Company and received a $30,000, 5 month 7% note on November 1, 2020. Required: a) Prepare the journal entry

Sam Co. lent money to Fry Company and received a $30,000, 5 month 7% note on November 1, 2020. Required:

a) Prepare the journal entry on 11/1/20

b) Prepare the adjusting entry required on 12/31/20

c) Prepare the journal entry to record the receipt of cash on the maturity date 3/31/21.

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