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Moss County Bank agrees to lend the Cullumber Company $695000 on January 1 . Cullumber Company signs a $695000,6%,9-month note. What is the adjusting entry

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Moss County Bank agrees to lend the Cullumber Company $695000 on January 1 . Cullumber Company signs a $695000,6%,9-month note. What is the adjusting entry required if Cullumber Company prepares financial statements on June 30 ? Interest Payable 20850 Interest Expense 20850

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