During the beginning of 2024 one of Erick's customers Hanah was experiencing cash flow problems...
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Accounting
During the beginning of one of Erick's customers Hanah was experiencing cash flow problems and was unable to pay her $ account to Erick Mangement Group. Erick Management Group agreed to substitute a twoyear note for the open account starting on January st Erick issued a two year noninterest bearing note. The note has an implied interest rate of Prepare the journal or adjusting entries for the note for the two years. Prepare the entries for jan dec Dec and Dec
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