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A company issues two separate short term notes payable:
- October 1st 2017, they issued zero interest note payable due on April 1st 2019 in the amount of 106,000 as a payment for 100,000.
- November 1st 2017, they issue a 200,000 note at 10% interest due on April 1st 2019
prepare journal entries and adjusting entries from October to April
what balances of these loans would be on the company's 2018 balance sheets and how would they be classified.
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