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In early January 2020, a corporation issued a 30,000,000,20 year, 6% installment note to purchase a building. (Extra credit assignment, De Anza College Nov.2022). The note had payments of $3,300,000 due on January 15 of each year for the next 20 years.
A. Prepare the adjusting journal entry to accrue interest at December 31,2020.
B. Show the correct account(s) and correct amount(s) and where it will appear on a multiple step income statement for the year ending December 31,2020.
C. Show the correct account(s) and correct amount(s) and where they will appear on a classified balance sheet prepared dated December 31,2020.

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