A business issued a 60-day, 7% note for $15,000 to a creditor on account. Journalize the entries

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A business issued a 60-day, 7% note for $15,000 to a creditor on account. Journalize the entries to record
(a) The issuance of the note and
(b) The payment of the note at maturity, including interest.

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Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Jul 17, 2012 02:15 AM

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A business issued a 60-day, 7% note for $15,000 to a creditor on account. Journalize the entries

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Accounting

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