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Question: A firm issues a one year note on July 1, 2017 with a face value of $6000 and an interest rate of …
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a firm issues a one year note on July 1, 2017 with a face
value of $6000 and an interest rate of 10%. it pays interest on
July 1 and Jan 1.
A: provide the journal entry for the issue o July 1,
2017
B: provide the proper journal entry on dec 31, 2017 for the
issuing firm
C: provide the proper journal entry on Jan 1, 2018 for the
issuing firm

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