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Exercise#13-ACCRUED EXPENSES: Cinema Inc. borrows $15,000 at 8% interest for 3 months on June 1. Instructions: A. Prepare the journal entry for the borrowing of

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Exercise#13-ACCRUED EXPENSES: Cinema Inc. borrows $15,000 at 8% interest for 3 months on June 1. Instructions: A. Prepare the journal entry for the borrowing of funds on June 1. B. Prepare the adjusting entry to accrue the monthly interest expense at June 30 on the note payable

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