Question: Refer to PE 3-3. Make the journal entry necessary to record the transaction. Data from PE 3-3 Allendorf Company used $30,000 in cash to repay

Refer to PE 3-3. Make the journal entry necessary to record the transaction.

Data from PE 3-3

Allendorf Company used $30,000 in cash to repay a portion of its bank loan (see PE 3-1). For simplicity, assume that there is no interest on the loan.

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