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Prepare journal entries to record the issuance of the note

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Problem - On April 1, Ringo Company borrowed $20,000 from its bank by issuing a 9%, 12-month note, with the interest to be paid on the maturity date. Prepare journal entries to record the issuance of the note and the related year-end adjusting entry on December 31.

Reference no: EM132879646

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