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A company borrowed $100,000 on December 1 by signing a six-month note that specifies interest at an annual percentage rate (APR) of 12%. No interest
A company borrowed $100,000 on December 1 by signing a six-month note that specifies interest at an annual percentage rate (APR) of 12%. No interest or principal payment is due until the note matures on May 31. The company prepares financial statements at the end of each calendar month. a- what would be the effect on the financial statements if the company fails to make the adjusting entry on December 31
a- what would be the effect on the financial statements if the company fails to make the adjusting entry on December 31
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