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At December 31, 2021, Crane Company had a five-month, 4%, $99,600 note receivable that was issued on October 1, 2021. Interest and principal are payable

At December 31, 2021, Crane Company had a five-month, 4%, $99,600 note receivable that was issued on October 1, 2021. Interest and principal are payable at maturity on March 1, 2022.

a) Prepare the December 31, 2021, adjusting entry for accrued interest

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