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question on june 2 ross company borrowed money from the bluetree bank and issued the 4292872

Question

On June 2, Ross Company borrowed money from the Bluetree Bank and issued the following note payable.

Principal

$50,940.00

Rate

8%

Term

30 Days

Required:

Journalize Ross Company's transactions to record the issuance and payment of the note on July 2.

Notes:

To simplify the arithmetic, use 360 days in a year (round your responses to the nearest cent).

Assume that no interest has been accrued prior to payment.

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