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Prepare the entry required on the note maturity date

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Reference no: EM132794424

On December 1, Daw Co. accepts a $10,000, 45-day, 6% note from a customer.

Problem 1: Prepare the year-end adjusting entry to record accrued interest revenue on December 31.

Problem 2: Prepare the entry required on the note's maturity date assuming it is honored.

Reference no: EM132794424

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