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On June 1, Sunland Company Ltd borrows $56,000 from Acme Bank on a 6-month, $56,000, 12% note. The note matures on December 1 Prepare the
On June 1, Sunland Company Ltd borrows $56,000 from Acme Bank on a 6-month, $56,000, 12% note. The note matures on December 1 Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 e Textbook and Media List of Accounts Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 e Textbook and Media List of Accounts Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit What was the total financing cost interest expense)? W Total interest expense $
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