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On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $17100. What is the adjusting entry for the accrued

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On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $17100. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.) Multiple Choice Debit interest Expense, $228; credit Interest Payable, $228 Debit interest Payable, $456; credit Interest Expense, $456, Debit interest Payable, $152; credit Interest Expense, $152. Debit interest Expense, $304 credit Interest Payable, $304 No adjusting entry is required

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