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12 June, 23:25

West County Bank agrees to lend Pharoah Company $432000 on January 1. Pharoah Company signs a $432000, 6%, 6-month note. What entry will Pharoah Company make to pay off the note and interest at maturity assuming that interest has been accrued to June 30?

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  1. 12 June, 23:41
    0
    D C

    Accrued expenses 12960

    Cash 12960

    Explanation:

    capital % interest Interest

    432000 6% 12960 six months
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Home » Business » West County Bank agrees to lend Pharoah Company $432000 on January 1. Pharoah Company signs a $432000, 6%, 6-month note.
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