Question: Assignment: Record the following transactions, in general journal for, for the ABC Company (Payee) and the XYZ Company (Maker). Make all the necessary entries for

Assignment:

Record the following transactions, in general journal for, for the ABC Company (Payee) and the XYZ Company (Maker). Make all the necessary entries for the 90-day period on both sets of books.

November 1: ABC received a $5,000, 8%, 90 day note dated November 1 from XYZ Company ON ACCOUNT.

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