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What should the journal entry for repayment on october

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Problem: Kinsella Seed borrowed $174,000 on October 1, 2019, at 10% interest. The interest and principal are due on October 1, 2020. In addition to a debit to Note Payable for $174,000, what should the journal entry for repayment on October 1, 2020 include?

Reference no: EM132420214

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