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On November 16,Predator Company borrowed $112,000 from DT Bank.The loan had an interest rate of 10% and was due in 90 days.Predator Company's fiscal year-end is December 31.
Prepare the journal entry to record the receipt of the cash.
Dual Court System
The structure of courts in the United States which consists of both federal and state courts, each with its own jurisdiction and authority.
Federal Courts
The courts of the United States, which operate under the federal government and handle legal issues based on the Constitution, federal laws, and disputes between states or between the U.S. government and foreign entities.
State Courts
Courts established by the states within the United States that deal with disputes involving state law or the state constitution, varying greatly in structure and jurisdiction across the country.
Federal Cases
Legal cases that fall under the jurisdiction of federal courts, often involving violations of federal laws or constitutional issues.
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