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Prepare the necessary journal entries for the following transactions: (a) On September 1, Draper Company borrowed $180,000 from Dixion County Bank on a 6-month,
Prepare the necessary journal entries for the following transactions: (a) On September 1, Draper Company borrowed $180,000 from Dixion County Bank on a 6-month, 8% note. (b) On December 31, Draper Company accrued interest (assume adjusting entries are only made at the end of the year).
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College Accounting A Practical Approach
Authors: Jeffrey Slater
12th edition
978-0132772068, 133468100, 013277206X, 9780133468106, 978-0133133233
