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The Yanked Corporation's controller prepares adjusting entries only at the end of the fiscal year. the following adjusting entries were prepared on December 31. 2016:

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The Yanked Corporation's controller prepares adjusting entries only at the end of the fiscal year. the following adjusting entries were prepared on December 31. 2016: Additional information: the company borrowed $34.000 on June 30. 2016. Principal and interest are due on June 30. 2017. This note is the company's only interest-bearing debt. Insurance for the year on the company's office buildings is $102,000. the insurance is paid in advance. On August 31. 2016. Yanked lent money to a customer. the customer signed a note with principal and interest at 6% due in one year. What is the interest rate on the company's note payable

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