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Business, 12.08.2020 05:01 elricardo34
Entries for Discounted Note Payable A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted at 5%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. a. b. Journalize the entry to record the payment of the note at maturity. b.
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