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At December 31, the unadjusted final balance of H&R Tacks reports interest payable of $0 and interest Expense of $0. Interest incurred and owed in

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At December 31, the unadjusted final balance of H&R Tacks reports interest payable of $0 and interest Expense of $0. Interest incurred and owed in December totals $500. Required: a. Prepare the adjusting journal entry on December 31. b. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry and report the adjusted balance

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