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Accounting

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Journalize the following transactions for Tammy Company:

Sept. 1 Sold $3,500 of merchandise to Jim on account
Oct. 1 Exchanged Jim’s account receivable for a fourmonth, 8% note for $3,500
Dec. 31 Recorded accrued interest on Jim’s note
Feb. 1 Jim paid off his note with interest (round to
nearest dollar)

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