Brief Exercise 13-4 (Static) Commercial paper (LO13-2] Branch Corporation issued $12 million of commercial paper...
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Brief Exercise 13-4 (Static) Commercial paper (LO13-2] Branch Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 9% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Enter your answers in whole dollars.) No Event Debit Credit 1 1 Answer is not complete. General Journal Cash Discount on notes payable Notes payable 2 2 2 Interest expense Discount on notes payable 03 3 3 Notes payable Cash
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