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July 15 borrowed 5000 cash from the bank giving a 60-day

Prepare general journal entries for the following transactions:

July 15 Borrowed $5,000 cash from the bank, giving a 60-day non-interest-bearing note. The note is discounted 12% by the bank.

Sept. 13 Paid the $5,000 note, recognizing the discount as interest expense.

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Financial Accounting: July 15 borrowed 5000 cash from the bank giving a 60-day

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Financial Accounting: July 15 borrowed 5000 cash from the bank giving a 60-day

Reference No:- TGS0778853

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