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On December 31, 20X1, the Notes Payable account at Cheries Boutique Shop had a balance of $72,000. This amount represented

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On December 31, 20X1, the Notes Payable account at Cherie’s Boutique Shop had a balance of $72,000. This amount represented funds borrowed on a six-month, 6 percent note from the firm’s bank on December 1. Prepare the adjusting journal entry for interest expense on this note that should be recorded for the year ended December 31, 20X1. Omit descriptions.

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College Accounting A Contemporary Approach

College Accounting A Contemporary Approach

ISBN: 9781260780352

5th Edition

Authors: David Haddock, John Price, Michael Farina

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Question Details
Chapter # 12
Section: EXERCISE
Problem: 6
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Question Posted: July 07, 2022 08:42:55
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