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On April 1, 2021, the company borrowed $30,000 from a bank and an 10-month note was signed requiring principal and interest at an annual interest

On April 1, 2021, the company borrowed $30,000 from a bank and an 10-month note was signed requiring principal and interest at an annual interest rate of 6% be paid January 31, 2022. Prepare the adjusting entry for 12/31/21. (5pts)

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