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Prepare any necessary journal entries for 2020, including adjusting entries. Acme borrowed $100,000 from a bank on 9/1/20 at an 8% interest rate. The loan

Prepare any necessary journal entries for 2020, including adjusting entries.

Acme borrowed $100,000 from a bank on 9/1/20 at an 8% interest rate. The loan plus interest is to be repaid on 9/1/21

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