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A company borrows $20,000 with 8% interest on October 1, 2018. This amount plus interest is due on September 30, 2019. Record the adjusting entry

A company borrows $20,000 with 8% interest on October 1, 2018. This amount plus interest is due on September 30, 2019. Record the adjusting entry on December 31, 2018

Journal entry worksheet for December 31, 2018

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