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To attract retailers to its shopping centre, the Makepiece Mall is going to lend money to tenants under formal contracts, provided that they use it
To attract retailers to its shopping centre, the Makepiece Mall is going to lend money to tenants under formal contracts, provided that
they use it to renovate their store space. On November the company loaned $ to a new tenant on a oneyear note
with a stated annual interest rate of percent. Interest is to be received by Makepiece Mall on April and at maturity on
October
Required:
Prepare journal entries that Makepiece Mall would record related to this note on the following dates: a November ; b
December Makepiece Mall's fiscal yearend; c April ; and d October If no entry is required for a
transactionevent select No journal entry required" in the first account field.
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