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On October 1, 2024, Cutters lent $90,000 to another company. A note was signed with principal and 8% interest to be paid on September 30,

On October 1, 2024, Cutters lent $90,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2025. Record the adjusting entry for interest at its year-end of December 31.

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