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A cash loan was acquired for $12,000.00 and it will be a six-month loan having a 7.25% annual interest rate on November 1, 2018. What
| A cash loan was acquired for $12,000.00 and it will be a six-month loan having a 7.25% annual interest rate | ||||||||||
| on November 1, 2018. | ||||||||||
| What will be the general journal entry on December 31, 2018 to record the accrued interest on this loan | ||||||||||
| assuming that accrued interest is only recorded once a year? | ||||||||||
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Financial Accounting For Executives And MBAs
Authors: Ferris & Wallace
2nd Edition
1934319627, 978-1934319628
