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1. Show all steps. A. Granger Company takes out a 9%, 90-day, $20,000 loan with its bank on March 1. Granger will repay the principal

1. Show all steps.

A. Granger Company takes out a 9%, 90-day, $20,000 loan with its bank on March 1. Granger will repay the principal and interest on May 30. What is the entry on Grangers books? B.What is the entry to record 1 month of interest at the end of March? April? C. What is the entry when Granger repays the principal and interest on May 30?

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