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You are preparing the annual adjusting entries for a business based on the following information. The business year-end is November 30, 2021. For each adjusting

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You are preparing the annual adjusting entries for a business based on the following information. The business year-end is November 30, 2021. For each adjusting entry, select the accounts are debited and credited using the drop-down menu. Calculate the dollar amount recorded for each adjusting entry. A. The business borrowed $80,000 from a bank on May 1, 2021 and signed a 9%, 12-month promissory note. The accrued interest and loan amount will be repaid on maturity. For the resulting adjusting entry, you would debit and credit for what dollar amount (nearest dollar without dollar sign ($) or comma, e.g. 15000): B. Equipment was purchased at the cost of $27,000 on April 1, 2021 with an expected useful life of 5 years. For the resulting adjusting entry, you would debit and credit B. Equipment was purchased at the cost of $27,000 on April 1, 2021 with an expected useful life of 5 years. For the resulting adjusting entry, you would debit and credit for what dollar amount (nearest dollar without dollar sign ($) or comma, e.g. 15000): C. Another business signed a contract to rent space in your building. The future tenant paid your business $15,750 on September 29, 2021 for five months of rent in advance. The rent contract starts on October 1. For the resulting adjusting entry, you would debit and credit . for what dollar amount (nearest dollar without dollar sign ($) or comma, e.g. 15000)

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