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On Januray 1,2023, blakes bicycles acquired cash to finance its operations by signing a note for a 360000 loan which is due in 5 years.

On Januray 1,2023, blakes bicycles acquired cash to finance its operations by signing a note for a 360000 loan which is due in 5 years. the loan has an annual interest rate of 10%., the first payment is due on January 1,2024. make an adjusting entry related to the transaction

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