Question: DillCo borrows $ 2 0 0 , 0 0 0 on September 1 , 2 0 X 0 , from First Bancorp. Monthly interest is

DillCo borrows $200,000 on September 1,20X0, from First Bancorp. Monthly interest is $1,200. The loan agreement requires DillCo to pay the interest every 6 months. The first interest payment is due February 28,20X1.Explain the impact on the financial statements if this entry is not recorded

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