A business issued a 60-day note for $45,000 to a creditor on account. The note was discounted

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A business issued a 60-day note for $45,000 to a creditor on account. The note was discounted at 6%. Journalize the entries to record

(a) The issuance of the note

(b) The payment of the note at maturity.

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Accounting

ISBN: 978-0324662962

23rd Edition

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

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Question Posted: Sep 05, 2011 07:25 AM

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A business issued a 60-day note for $45,000 to a creditor on account. The note was discounted

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