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On December 1 , Casio borrowed $ 5 0 , 0 0 0 at a 6 % interest rate from One Mutual Bank. The note
On December Casio borrowed $ at a interest rate from One Mutual Bank. The note payable plus interest will not be paid until April of the following year. Casio's accounting period ends on December and adjustments are only made at yearend. The adjusting entry needed on December for Casio is:
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