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Show the entries for transaction - show the adjusting entry

Bill's Bank received a $20,000, 90 day, 14.5 percent note from Sun Town Company on account, dated November 1. Sun Town paid the note on the due date.

(a) Show the entries for this transaction.

(b) Show the adjusting entry assuming December 31 is the last day of the accounting period?

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Accounting Basics: Show the entries for transaction - show the adjusting entry

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Accounting Basics: Show the entries for transaction - show the adjusting entry

Reference No:- TGS0779586

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