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You borrow $4,000 from the bank on March 1,2022 for 60 days at 6% interest. 1. Journalize the entries to record (a) the issuance of
You borrow $4,000 from the bank on March 1,2022 for 60 days at 6% interest. 1. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. 2. Using the same information as in part 1, assume that the note was discounted. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity
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Financial Accounting
Authors: Thomas Dyckman, Robert Magee, Glenn Pfeiffer
3rd Edition
1934319600, 978-1934319604
