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Rogers Machinery Company borrowed $400,000 on June 1, with a 3-month, 9%, interest-bearing note. ...

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Accounting

Rogers Machinery Company borrowed $400,000 on June 1, with a 3-month, 9%, interest-bearing note.

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here are the options for each one of these : (cash, interest payable, interest receivable, note payable, note receivable)

1. Record the borrowing transaction. Jun. 1 (Record issuance of note payable)

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