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26 Jerry borrowed a $160,000 bank 1oan on July 1, 2018 at 51t annual interest rate for six-months 0,000 bank loan on July 1, 2018
26 Jerry borrowed a $160,000 bank 1oan on July 1, 2018 at 51t annual interest rate for six-months 0,000 bank loan on July 1, 2018 at 5% annual interest rate for six-months ending December 31, 2018. The loan will be repaid on January 1, 2019. Please prepare the Journal Entries to record the July 1 loan, the accrued interest on December 31 and the repayment on January Date Account Title and Explanation Debit Credit
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, George Foster, Srikant M. Datar
10th International Edition
0130851779, 978-0130851772
