(Answered) Question - griffin enterprises issues a 660000 45-day 4

Accounting

Question - Griffin Enterprises issues a $660,000, 45-day, 4% note to Romo Industries for merchandise inventory.

a. Journalize Griffin Enterprises' entries to record:

1. the issuance of the note

2. the payment of the note at maturity

b. Journalize Romo Industries' entries to record:

1. the receipt of the note

2. the receipt of the payment of the note at maturity

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