Question: How can I prepare journal entries for this transaction: Dec 16,2016 The Purple Onion Company accepted a $20,000, 60 days, 5.5% note dated this day

How can I prepare journal entries for this transaction: Dec 16,2016 The Purple Onion Company accepted a $20,000, 60 days, 5.5% note dated this day in granting Hal Krueger a time extension on his past-due account

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