Antione4036 Antione4036

16-01-2023
Business

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On October 1, Eder Fabrication borrowed $55 million and issued a nine-month promissory note. Interest was discounted at issuance at a 13% discount rate. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period

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