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Business, 02.08.2019 18:10 zay9357

Joyce's gift signs a three-month note payable to finance increase in inventory for the christmas shopping season. the note is signed on nov 1 in the amount of $50k with annual interest 12%. what is the adjusting entry to be made on dec 31 for the interest expense accrued to that date, if no entries have been made previously for the interest?

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