Business, 14.04.2020 22:34 tylorroundy

On October 1, Eder Fabrication borrowed $69 million and issued a nine-month promissory note. Interest was discounted at issuance at a 11% discount rate. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period.

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On October 1, Eder Fabrication borrowed $69 million and issued a nine-month promissory note. Interes...

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