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On June 30 the company loaned its chief financial officer $21,000; principal and interest at 7% are due in one year. Prepare the necessary

On June 30 the company loaned its chief financial officer $21,000; principal and interest at 7% are due in one year. Prepare the necessary adjusting entry on December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Interest expense 735 Interest payable 735 Record entry Clear entry View general journal

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