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What is the adjusting entry on May 31, 2013, the end of the fiscal year? On March, 2013, XYZ Company borrowed $50,000 and gave the

What is the adjusting entry on May 31, 2013, the end of the fiscal year?

On March, 2013, XYZ Company borrowed $50,000 and gave the bank a promissory note with an intrest rate of 6%, interest payable monthly, and the note was due November 30, 2013. XYZ Company paid interest for March through June, charging Intrest Expense.

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