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Using the current year, journalize the following transactions. Use page 10 of a general journal and page 20 of a cash receipts journal. Source documents are abbreviated as follows: check, C; receipt, R; memorandum, M. Transactions: June 8. Signed a 180-day, 8% note, for $20,000.00 with First National Bank. R361. June 12. Signed a 90-day, 6% note with Best Company for an extension of time on this account payable,$10,000.00. M165.
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