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Posted on Jul 20, 2024

On November 1 , 2 0 2 4 , the company borrowed $ 1 1 , 0 0 0 from a bank. The loan requires

On November

1, 2024,

the company borrowed $

11, 000

from a bank. The loan requires principal and interest at

9 %

to be paid on October

30, 2025 .

Record the adjusting entry for interest at its year

-

end of December

31 .

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