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How to record to GENERAL JOURNAL? Borrowed $25,000 from Ace Bank, on a one year, 12%...

How to record to GENERAL JOURNAL?

Borrowed $25,000 from Ace Bank, on a one year, 12% note, with interest to be paid at maturity.

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Answer #1

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

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