Consider the following situations for Shocker: Employee salaries for the month of December totaling $6,300...

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Accounting

Consider the following situations for Shocker: Employee salaries for the month of December totaling $6,300 will be paid on January 7,2025.
On August 31,2024, Shocker borrowed $53,000 from a local bank. A note was signed with principal and 6% interest to be paid on August 31,2025.

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