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Waterway Company borrows $45,000 on July 1 from the bank by signing a $45,000, 8%, one-year note payable. (a) Prepare the journal entry to record

Waterway Company borrows $45,000 on July 1 from the bank by signing a $45,000, 8%, one-year note payable. (a) Prepare the journal entry to record the proceeds of the note. (b) Prepare th...

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