Branch Corporation issued $11 million of commercial paper on March 1 on a nine-month note. Interest...

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Branch Corporation issued $11 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 13% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet 3 Record the issuance of the commercial paper. Note: Enter debits before credits. Transaction General Journal Debit Credit Record the interest expense on the note at maturity. ote: Enter debits before credits. Transaction General Journal Debit Credit 2 Journal entry worksheet 1) 2 3 Record the repayment at maturity. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Branch Corporation issued $11 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 13% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet 3 Record the issuance of the commercial paper. Note: Enter debits before credits. Transaction General Journal Debit Credit Record the interest expense on the note at maturity. ote: Enter debits before credits. Transaction General Journal Debit Credit 2 Journal entry worksheet 1) 2 3 Record the repayment at maturity. Note: Enter debits before credits. Transaction General Journal Debit Credit 3

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Answer Transaction General Journal Debit Credit 1 Cash 9927500 Discou... View the full answer