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Branch corporation issued 12 million of commercial paper on

1. Branch Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 9% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity.

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Accounting Basics: Branch corporation issued 12 million of commercial paper on

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Accounting Basics: Branch corporation issued 12 million of commercial paper on

Reference No:- TGS01299531

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