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On December 1, 2017 Blue Ltd. borrowed $10,000 on a 90-day, 10% note. The year...

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Question

Accounting

On December 1, 2017 Blue Ltd. borrowed $10,000 on a 90-day, 10% note. The year end for the company is December 31, 2017.

Required:

  1. Write out the required entries, (if any) for the year end.
  2. What is the entry required on the maturity date?

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