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On July 1, Year 2, WWE paid $108 on a bank loan that was originated in Year 1. WWE borrowed $100 on June 30, Year

On July 1, Year 2, WWE paid $108 on a bank loan that was originated in Year 1. WWE borrowed $100 on June 30, Year 1 with 8% annual interest. Assume bank loans are debt and interest payable is an accrued liability.

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