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Interest Payable February 1 Balance 1,200 February Transactions 1,500 February 28 Adjustment ? February 28 Balance 2,100 a.What is the amount of the February 28

Interest Payable

February 1 Balance 1,200

February Transactions 1,500

February 28 Adjustment ?

February 28 Balance 2,100

a.What is the amount of the February 28 adjustment?

b. What account would most likely have been credited for the amount of the February Transaction?

c. What account would most likely be debited for the amount of the February 28 adjustment?

d. Why would this adjusting entry have been made?

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