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Question: Please enter a journal entry Martin has agreed to pay his parents interest on the $2000 they loaned him to get the business started.

Question: Please enter a journal entry

Martin has agreed to pay his parents interest on the $2000 they loaned him to get the business started. The last payment was 12/31/2017. The annual interest rate on the loan is 6%. You forgot to pay them in January. YOu call and let them know that the check will come in February.

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