Rob Judson Company had the following transactions involving notes payable.
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1-Jul-11 |
Borrows $50,000 from Third National Bank by signing a 9-month, 12% note. |
|
1-Nov-11 |
Borrows $60,000 from DeKalb State Bank by signing a 3-month, 10% note. |
|
31-Dec-11 |
Prepares adjusting entries. |
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1-Feb-12 |
Pays principal and interest to DeKalb State Bank. |
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1-Apr-12 |
Pays principal and interest to Third National Bank. |