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Give the generaljournal entry to record each of the following transactions for Davidson Company: 1. Issued a 6-month, 10 percent note for $74,000 to purchase

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Give the generaljournal entry to record each of the following transactions for Davidson Company: 1. Issued a 6-month, 10 percent note for $74,000 to purchase two forklifts on May 14, 2019 (debit Warehouse Equipment). 2. Discounted its own 180-day, noninterest-bearing note with a principal amount of $28,000 at the Nelson Bank and Trust on May 28, 2019. The bank charged a discount rate of 8 percent. 3. Paid the May 14 note on its due date. 4. Paid the note discounted on May 28 on its due date. Analyze: What is the total interest expense for the year as a result of these transactions? POLIU 2 3 4 Record entry for 6-month, 10% note issued for warehouse equipment. Note: Enter debits before credits. General Journal Debit Credit Date May 14, 2019 Record entry Clear entry View general journal Record entry for 180-day note discounted. Note: Enter debits before credits. General Journal Debit Credit Date May 28, 2019 Record entry Clear entry View general journal Record entry for payment of 6-month, 10% note. Note: Enter debits before credits. General Journal Debit Credit Date Nov 14, 2019 Record entry Clear entry View general journal

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