On June 1, 2021, ABC Company signed a SR25,000, 120-day, 6% note payable to cover its past due account payable. a. What

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answerhappygod
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On June 1, 2021, ABC Company signed a SR25,000, 120-day, 6% note payable to cover its past due account payable. a. What

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On June 1, 2021, ABC Company signed a SR25,000, 120-day, 6% note
payable to cover its past due account payable.
a. What is the total amount of interest to be paid on this
note?
b. Prepare ABC Company's general journal entry to record the
issuance of the note payable
c. Prepare ABC Company's general journal entry to record the
payment of the note on
September 29, 2021 (3 marks).
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