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On June 1, Cullumber Company Ltd, borrows $102.000 from Acme Bank on a 6-month $102.000 BX note. The note matures on December 1 Prepare the
On June 1, Cullumber Company Ltd, borrows $102.000 from Acme Bank on a 6-month $102.000 BX note. The note matures on December 1 Prepare the entry on June 1.[Credit account titles are automatically indented when cours entered. Do not indent only) Date Account Truies and Explanation Debt Credit June 1 Prepare the adjusting entry on June 30.[Credit counter totally Indented wount is entered Do notIndent Mary Date Account Tiles and Explanation Debit Credit June 30 Prepare the entry at maturity December I assuming monthly adjusting entries have been made through November 30. Credit account toutomatically indented when amounts entered Danonen) Date Account Tides and Explanation Debit Credit Dec 1 What was the total financing cost interest expense? Total interest expense
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