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??? Wayne Bank agrees to lend Wayne Building Company $400,000 on January 1. Wayne Building Company signs a $400,000,6%, 6-month note. What adjusting entry is
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Wayne Bank agrees to lend Wayne Building Company $400,000 on January 1. Wayne Building Company signs a $400,000,6%, 6-month note. What adjusting entry is required on Wayne Building Company's March 30 financial statements? Debit Interest Expense 12,000 Credit Cash 12,000 Debit Interest Payable 6,000 Credit Interest Expense 6,000 Debit Interest Expense 12,000 Credit Interest Payable 12,000 Debit Interest Expense 6,000 Credit Interest Payable 6,000 Step by Step Solution
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