Nbspthe interest to be paid on the maturity


On April 1, 2010, Ranee Company borrowed $20,000 from its bank by issuing a 9%, 12 month note, with the interest to be paid on the maturity date. 

Prepare journal entries to record the issuance of the note and the related year end adjusting entry.

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Financial Accounting: Nbspthe interest to be paid on the maturity
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