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The XYZ Company took out a loan from a bank on December 1. The first interest payment is to be made the following year on
The XYZ Company took out a loan from a bank on December 1. The first interest payment is to be made the following year on June 30, but the company is preparing its financial statements for the year ending December 31 in the same month the loan originated. What type of Adjusting Journal Entry should be recorded? 0 0 0 0 Accrued Expense Deferred Revenue Accrued Revenue Deferred Expense
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