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On November 1, 2013, ABC Company borrowed $200,000 for 90 days at 9% interest by signing a note. Assume that the face value of the note equals the principal of the loan. Prepare three general journal entries to record issuing the note, accrual of interest at the end of 2013 and the payment of the note at maturity.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9958686

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