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Kindly explain what would be the adjusting entry for the specific question; The note payable was at an interest rate of 9 percent payable monthly.

Kindly explain what would be the adjusting entry for the specific question;

The note payable was at an interest rate of 9 percent payable monthly. It had been

outstanding throughout the year.

The beggining balance of Interest Expense is $ 7,100.00 and no beggining balance for Interest Payable

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