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2. XYZ Company borrowed $80,000 on November 1,2025 , by signing a $80,000,12%,3-month note. Prepare XYZ's November 1, 2025, entry; the December 31, 2025, annual
2. XYZ Company borrowed $80,000 on November 1,2025 , by signing a $80,000,12%,3-month note. Prepare XYZ's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (12 pts)
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Financial Accounting
Authors: Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. Carcello
12th Edition
0071116796, 978-0071116794
