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Journalize Dixon Industries entries to record the receipt

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Problem - Cosimo Enterprises issues a $260,000, 45-day, 5% note to Dixon Industries for merchandise inventory.

a. Journalize Cosimo Enterprises' entries to record:

1. the issuance of the note.

2. the payment of the note at maturity.

b. Journalize Dixon Industries' entries to record the receipt of the payment of the note at maturity.

Reference no: EM132693203

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