Solved: Determine the payment of the note at maturity, Managerial Accounting

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Determine the payment of the note at maturity

Response to the following problem:

TKR Enterprises issues a 30-day note for $570,000 to Sweeney Industries for merchandise inventory. Sweeney Industries discounts the note at 8%. Assume a 360-day year. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

a. Journalize TKR Enterprises' entries to record: the issuance of the note the payment of the note at maturity.

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Managerial Accounting: Determine the payment of the note at maturity

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Managerial Accounting: Determine the payment of the note at maturity

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