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On May 1st 2021, MSI Inc borrows $300,000 from HBL Inc by signing a 10 month note, 7.5% note. Record the entry. On December 31st,

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On May 1st 2021, MSI Inc borrows $300,000 from HBL Inc by signing a 10 month note, 7.5% note. Record the entry. On December 31st, 2021 record the adjusting entry accruing the interest for those pertinent months? On March 1st, 2022 MSI pays the principal and interest to HBL Inc. A/C Account Description Debit Cre 300000 A cash (may 1, 2021) 300000 L Notes payable (may 22500 SE interest expense (D 22500 L interest payable (De Notes Payable (Mar

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