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Remmie Company obtained a $50,000, one-year, 12 percent bank loan on November 1 of the current year. Interest is payable at the end of the

Remmie Company obtained a $50,000, one-year, 12 percent bank loan on November 1 of the current year. Interest is payable at the end of the loan term. The companys adjusting entry needed on December 31 is:

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