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Xyz heating and a/c inc borrowed $50,000 from their bank on December 1 and signed a 60 day note with 6% interest. On December 31
Xyz heating and a/c inc borrowed $50,000 from their bank on December 1 and signed a 60 day note with 6% interest. On December 31 before financial statements are prepared, what adjusting entry should be made for the accrued interest ?
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