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On November 1, Alan Company signed a 120-day, 12 % note payable, with a face value of $24,300. What is the adjusting entry for the

On November 1, Alan Company signed a 120-day, 12 % note payable, with a face value of $24,300. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.)

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