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

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A company borrows $30,000 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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