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Tamarisk, Inc. borrows $68,000 from Carla Vista Co. on July 1, 2021 signing a 7%, one-year note payable. Interest is to be paid at maturity

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Tamarisk, Inc. borrows $68,000 from Carla Vista Co. on July 1, 2021 signing a 7%, one-year note payable. Interest is to be paid at maturity Show The Prepare Journal entry for Tamarisk, Inc. to record the receipt of the proceeds of the note. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no ent is required, select "No Entry for the account titles and enter for the amounts) Debit Credit Date Account Titles and Explanation July 1, 2021 (Borrdwcas cash and sign note payable.) List of Accounts Prepare journal entry for Tamarisk, Inc. to record the accrued interest at December 31, assuming adjusting entries are made only at year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Dec 31, 2021 Debit Credit (To accrue interest expense.) Prepare journal entry for Tamarisk, Inc. to record the payment of the note at maturity. (Credit account title ore automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit July 1, 2022 (To record payment of note and interest.)

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