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The company purchased an equipment for 16,000 on credit and issued a 120-day note bearing interest at 9 percent as evidence of the debt. At

The company purchased an equipment for 16,000 on credit and issued a 120-day note bearing interest at 9 percent as evidence of the debt. At maturity date, the journal entry to record payment of the note in the companys books is a debit to Notes Payable for

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