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Taylor Bank lends Guarantee Company $108,338 on January 1. Guarantee Company signs a $108,338,11%,9-month, interest-bearing note. The entry made by Guarantee Company on January 1

Taylor Bank lends Guarantee Company $108,338 on January 1. Guarantee Company signs a $108,338,11%,9-month, interest-bearing note. The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is

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