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2. West County Bank agrees to lend Drake Builders Company $100,000 on January 1. Drake Builders Company signs a $100,000, 6%, 6-month note. What is

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2. West County Bank agrees to lend Drake Builders Company $100,000 on January 1. Drake Builders Company signs a $100,000, 6%, 6-month note. What is the adjusting entry required if Drake Builders Company prepares financial atements on March 30? 3,000 Interest Expense Interest Expense c. Interest Expense d. Interest Payable 3,000 Interest Payable Cash Interest Payable nterest Expense 3,000 1,500 1,500 3,000 1,500 1,500

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