A business issued a 30-day, 7% note for $150,000 to a creditor on account. Journalize the entries

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A business issued a 30-day, 7% note for $150,000 to a creditor on account. Journalize the entries to record

(a) The issuance of the note and

(b) The payment of the note at maturity, including interest. Assume a 360-day year.

Related Book For answer-question

Accounting

ISBN: 978-0324662962

23rd Edition

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

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Posted Date: Jan 04, 2021 08:47 AM

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A business issued a 30-day, 7% note for $150,000 to a creditor on account. Journalize the entries

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Accounting

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