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Oct. 1, ABC, Inc. borrows $20,000 b 5%, six-month note. nat adjusting entry does ABC make cember 31 of year 1 ? Debit interest expense
Oct. 1, ABC, Inc. borrows $20,000 b 5%, six-month note. nat adjusting entry does ABC make cember 31 of year 1 ? Debit interest expense 400 Credit interest payable 400 Debit interest expense 300 Credit interest payable 300 Debit interest expense 1.200 Credit interest payable 1,200 Debit interest receivable 300 Credit interest revenue 300
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