Question: E8-4 Notes payable A business issued a 90-day, 5% note for $60,000 to a creditor for an accounts payable. Illustrate the effects on the accounts

E8-4 Notes payable A business issued a 90-day, 5% note for

E8-4 Notes payable A business issued a 90-day, 5% note for $60,000 to a creditor for an accounts payable. Illustrate the effects on the accounts and financial statements of recording (a) the issuance of the note and (b) the payment of the note at maturity, including interest

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