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Business, 01.12.2020 01:30 rosetoheart2

Metlock, Inc. had the following transactions involving notes payable. July 1, 2020 Borrows $54,500 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2020 Borrows $65,400 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2020 Prepares adjusting entries. Feb. 1, 2021 Pays principal and interest to Lyon County State Bank. Apr. 1, 2021 Pays principal and interest to First National Bank.

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Metlock, Inc. had the following transactions involving notes payable. July 1, 2020 Borrows $54,500 f...
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