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On August 1, 2020, ABC Company borrowed $100,000 cash on a 6-month note payable. The annual interest rate is 12 percent. The principal and all

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On August 1, 2020, ABC Company borrowed $100,000 cash on a 6-month note payable. The annual interest rate is 12 percent. The principal and all the interests were paid by ABC at the maturity date, January 31, 2021. What is the journal entry to be recorded for ABC on December 31, 2020

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