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On Nov. 1, Junk Yard Dog, Inc . signed a 120-day, 10% note payable, with a face value of $22,500. What is the adjusting entry

On Nov. 1, Junk Yard Dog, Inc. signed a 120-day, 10% note payable, with a face value of $22,500. What is the adjusting entry for the interest that would be accrued on 12/31, on the note? (Use 360 days a year.)

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