Question: A business issued a 30-day note for $72,000 to a creditor on account. The note was discounted at 7%. Journalize the entries to record (a)

A business issued a 30-day note for $72,000 to a creditor on account. The note was discounted at 7%. Journalize the entries to record

(a) The issuance of the note and

(b) The payment of the note at maturity.


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