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Case 1: Notes The Holtby Company purchased equipment from the Fleury Company in exchange for a $6,000 notes payable on September 1, 20x1. The note is to paid in 90 days with an interest rate of 10%. Assume a 360-day year. REQUIRED: a) Record the journal entry on September 1, 20x1. b) Record the journal entry at the time of payment (assume the note is paid in full on the appropriate date).
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Case 1: Notes The Holtby Company purchased equipment from the Fleury Company in exchange for a $6,00...
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