A business issued a 60-day note for $60,000 to a bank. The note was discounted at 8%.
Question:
A business issued a 60-day note for $60,000 to a bank. The note was discounted at 8%. Journalize the entries to record
(a) The issuance of the note and
(b) The payment of the note at maturity.
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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