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Prepare crenshaw journal entry to record the issuance

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Reference no: EM131871958

Question - On August 15, Crenshaw Inc borrowed $80,000 cash from Wells Fargo by signing a 5%, 90-day note payable.

a. Prepare Crenshaw's journal entry to record the issuance of the note payable.

b. Prepare Crenshaw's journal entry to record the payment of the note at maturity.

Reference no: EM131871958

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