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The Corona Co. borrowed $40,000 from Red Stripe Co., signing a note payable. The note is dated November 14,2022 , is for 95 days, and

The Corona Co. borrowed $40,000 from Red Stripe Co., signing a note payable. The note is dated November 14,2022 , is for 95 days, and carries a 12% interest rate. The principal of the note and interest will be paid at maturity. Required: a) Complete the general journal entry to record the interest accrual on December 31, 2022. b) Determine the note's maturity date and record the general journal entry to pay for the

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