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19-12-2022
Business

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On May 1, 2021, a company lends $150,000 to one of its main suppliers and accepts a 12-month, 6% note. Record the acceptance of the note on May 1, 2021, the adjustment on December 31, 2021, and the cash collection on May 1, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)

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