Question: On November 1 , 2 0 2 4 , a company signed a $ 1 0 0 , 0 0 0 , 6 % ,

On November 1,2024, a company signed a $100,000,6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1,2025. What effect does receiving cash and signing a note have on the financial statements?

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