The average temperature in san francisco, california, for december, january, and february is 11°c (52°f). during the same three-month period the average temperature in richmond, virginia, is 4°c (39°f).
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On January 1, 2021, Nantucket Ferry borrowed $14,000,000 cash from BankOne and issued a four-year, $14,000,000, 6% note. Interest was payable annually on December 31. Prepare the journal entries for both firms to record interest at December 31, 2021.
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