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On October 1, Ben borrowed $12,000 from Jerry by issuing a 10%, 4-month note. Prepare Bens entries to record (1) accrued interest on December 31

On October 1, Ben borrowed $12,000 from Jerry by issuing a 10%, 4-month note. Prepare Bens entries to record (1) accrued interest on December 31 and payment at maturity.

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