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Record the journal entries for the following transactions: Oct. 1 Dec. 31 July 1 Borrowed $20,000 from the bank and signed a 9 month

Record the journal entries for the following transactions: Oct. 1 Dec. 31 July 1 Borrowed $20,000 from the bank and signed a 9 month note payable with 9% interest. Record the adjusting journal entry to record the interest on fiscal year end. Record the payment of the note.

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