A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted

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A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted at 5%. 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: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 09, 2021 02:02 PM

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A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted

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Accounting

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