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Yeats Company issued a $5,000 face value note to the State Bank on December 1, Year XXX1. The note had a 12 percent annual rate

Yeats Company issued a $5,000 face value note to the State Bank on December 1, Year XXX1. The note had a 12 percent annual rate of interest and a one-year term.

The adjusting entry to record accrued interest on December 31, Year XXX1, would

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