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journal

Required information Short-term notes payable are current liabilities, most bear interest. When a short-term notes face valu
Knowledge Check 01 Coolidge Company owes $1,000 for merchandise Inventory purchased from Ross Company during April. The amoun
Journal entry worksheet Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The
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Answer #1

Journal

Date

Account Title and Explanation

Debit

Credit

June 15 Accounts payable - Ross company 1,000
Cash 400
Note payable 600

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