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The following information applies to the questions displayed below.] On April 1, 2015, Shoemaker Corporation realizes that one of its main suppliers is having difficulty
The following information applies to the questions displayed below.] On April 1, 2015, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $530,000 to its supplier using a 12- month, 12% note. Record the following transactions for Shoemaker Corporation
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