Wang Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was
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Wang Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 9% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity.
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Cash difference 11190000 Discount on notes payable 12000...View the full answer
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