Takemoto Corporation borrowed 60 000 on November 1 2011 by signing
Takemoto Corporation borrowed $60,000 on November 1, 2011, by signing a $61,350, three-month, zero-interest-bearing note. Prepare Takemoto’s November 1, 2011 entry; the December 31, 2011 annual adjusting entry; and the February 1, 2012 entry.
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