A business issued a 90-day note for $80,000 to a creditor on account. The note was discounted

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A business issued a 90-day note for $80,000 to a creditor on account. The note was discounted at 8%. Journalize the entries to record
(a) The issuance of the note and
(b) The payment of the note at maturity.

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Accounting

ISBN: 978-0324401844

22nd Edition

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

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