Question: Bridgeport Corporation issues a $631.000, 5%, five-year note payable on January 1, 2024. The terms provide for semi-annual blended payments of $72,097 on July 1

Bridgeport Corporation issues a $631.000, 5%, five-year note payable on January 1, 2024. The terms provide for semi-annual blended payments of $72,097 on July 1 and Jan 1. Assuming Erving has a December 31 year end, prepare the 2024 year end adjusting entry to account for accrued interest on the note payable

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