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Home / Questions / On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash duri...

On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash during the slo

On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash during the slow season of the year. The interest rate on the note was 8%. At the time the note was due, the amount of interest owed was $480.

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Date

Account Titles and Explanation

Debit

Credit

May 15

Sept. 15

On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash during the slow season of the year. The interest rate on the note was 8%. At the time the note was due, the amount of interest owed was $480.

 

Apr 22 2020 View more View Less

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