Cosimo Enterprises issues a $260,000, 45-day, 5% note to Dixon Industries for merchandise inventory.
a. Journalize Cosimo Enterprises’ entries to record:
1. The issuance of the note.
2. The payment of the note at maturity.
b. Journalize Dixon Industries’ entries to record:
1. The receipt of the note.
2. The receipt of the payment of the note at maturity?
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