A business issued a 45-day note for $90,000 to a creditor on account. The note was discounted
Question:
A business issued a 45-day note for $90,000 to a creditor on account. The note was discounted at 8%. Journalize the entries to record
(a) The issuance of the note
(b) The payment of the note at maturity.
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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