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Hanna Company borrows $80,000 on July 1 from the bank by signing a $80,000, 10%, one-year note payable. -Prepare the journal entry to record the
Hanna Company borrows $80,000 on July 1 from the bank by signing a $80,000, 10%, one-year note payable. -Prepare the journal entry to record the proceeds of the note. -Prepare the journal entry to record accrued interest at December 31, assuming adjusting entries are made only at the end of the year
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