On 6/30/2021, $20,000 cash was borrowed on a four-year 10% note payable. What is the adjusting entry
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Question:
On 6/30/2021, $20,000 cash was borrowed on a four-year 10% note payable.
What is the adjusting entry for the Interest accrued on the notes payable? (year end is 12/31)
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