Question: Question 6. On August 31, 2022. Mackel Inc. accepted a 6 month note from Tamer Limited in the amount of $10,000. The note bears 7%
Question 6. On August 31, 2022. Mackel Inc. accepted a 6 month note from Tamer Limited in the amount of $10,000. The note bears 7% annual interest and replaced the accounts receivable that Mackel has recorded for Tamer. Tamer will pay the face value of the note plus interest on the due date. Required: 1. Prepare the journal entry to record the acceptance of the note. 2. Record any interest owing to Mackel at their year-end, December 31 . 3. Prepare the journal entry to record payment of the note on the due date
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