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What account and amount would be credited

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Remington Company issued a $30,000, 90-day, 7% note on December 1st. What entry will Remington Company be required to make on December 31st concerning this note's interest? (Use a banker's year 360 days in your calculations)

Problem A) What account and amount would be debited?

Problem B) What account and amount would be credited?

Reference no: EM132689947

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