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On march 1, terrell & associates provides legal services to whole grain bakery regarding some recent food poisoning complaints. legal services total $10,700. in payment for the services, whole grain bakery signs a 10% note requiring the payment of the face amount and interest to terrell & associates on september 1.
required: for terrell & associates, record the acceptance of the note receivable on march 1 and the cash collection on september 1. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)
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