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Taylor Bank lends Guarantee Company $109,642 on January 1. Guarantee Company signs a $109,642, 8%, 9-month, interest-bearing note. The entry made by Guarantee Company on

Taylor Bank lends Guarantee Company $109,642 on January 1. Guarantee Company signs a $109,642, 8%, 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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