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On June 1, Crane company borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. the note matures on December 1st. Prepare the entries
On June 1, Crane company borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. the note matures on December 1st. Prepare the entries for June 1st, June 30th, and the entry at maturity on December 1. What is the total interest expense?
Prepare the entries for June 1st, June 30th, and the entry at maturity on December 1.
What is the total interest expense?
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