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On June 1, Blossom Company Ltd. borrows $60,000 from Acme Bank on a 6 -month, $60,000,4% note. The note matures on December 1. Prepare the
On June 1, Blossom Company Ltd. borrows $60,000 from Acme Bank on a 6 -month, $60,000,4% note. The note matures on December 1. Prepare the entry on June 1 ( Credit account tIlles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Deblt Credit June 1 List of Accounts Prepare the adjusting entry on June 30. (Credit account titles cre outomatically indented when amount is entered. Donot indent manualily) Date Account Tities and Explanation June 30 Cebit Ust of Accounts Prepare the entry at maturiby (December 1), assuming monthly adfusting entries have been made through November 30 . (Credit occount titles ore cutomaticolly indented when emount is entered. Do not indent manualiyd Date Account THes and Explanation Deblit Credit Dec 1 Uist of Accounts What was the total finanding cost (interest expense)? Total interest eqpense $ Iist of Accounts
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