Oct. 1: Issued a $40,000 note and paid $10,000 cash to repair and improve its building....

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Oct. 1: Issued a $40,000 note and paid $10,000 cash to repair and improve its building. This note bears interest of 8% and matures in 12 months. Dat Account Titles and Explanation e Debit Dat Account Titles and Explanation e Oct. 31: Recorded accrued interest for the Wheeler note, the Commerce Bank note, and the improvement note. Debit Nov. 1: Paid principal and interest on the Wheeler note. Dat Account Titles and Explanation e Credit Debit Credit Credit Oct. 1: Issued a $40,000 note and paid $10,000 cash to repair and improve its building. This note bears interest of 8% and matures in 12 months. Dat Account Titles and Explanation e Debit Dat Account Titles and Explanation e Oct. 31: Recorded accrued interest for the Wheeler note, the Commerce Bank note, and the improvement note. Debit Nov. 1: Paid principal and interest on the Wheeler note. Dat Account Titles and Explanation e Credit Debit Credit Credit

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Oct 1 Account Titles and Explanation Cash Note Payabl... View the full answer