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On November 1, Hill Company issued the following note to the Greenwolf Bank. $86,400 10% 75 Days Principal Rate Term Required: ournalize the adjusting entry

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On November 1, Hill Company issued the following note to the Greenwolf Bank. $86,400 10% 75 Days Principal Rate Term Required: ournalize the adjusting entry on December 31 in Hill Company's books, to record the accrued interest payable on the note. Note: To simplify the arithmetic, use 360 days in a year. Debit Date Account Title Credit Dec. 31

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