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would someone please explain how they answered this please and thank you On April 1, Joes Company issued a note payable with a maturity of

image text in transcribedwould someone please explain how they answered this please and thank you

On April 1, Joes Company issued a note payable with a maturity of 12 months in the amount of $100,000 and a stated interest rate of 6%, in exchange for its accounts payable balance of $100,000 with Santiago Inc. a. Prepare the journal entry for April 1

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