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A business issued a 30-day, 7% note for $36,000 to a creditor on account. Illustrate the effects on the

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A business issued a 30-day, 7% note for $36,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording;(a) the issuance of the note and;(b) the payment of the note at maturity, including interest.

 

Paper#81701 | Written in 18-Jul-2015

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