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Journalize the transactions for the bank

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Reference no: EM13511900

Lakeland Bank & Trust Company lent $110,000 to Samantha Michael on a 90-day, 9% note.

Requirement

1. Journalize the following transactions for the bank (explanations are not required):

a. Lending the money on June 6.

b. Collecting the principal and interest at maturity. Specify the date. For the computation of interest, use a 360-day year.

Reference no: EM13511900

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