Question: Jason and matthew borrowed $ 3 8 , 4 0 0 on a 7 month 5 % note from gem state bank to open their

Jason and matthew borrowed $38,400 on a 7 month 5% note from gem state bank to open their business, blossoms coffee house. The money was borrowed on june 1,2025 and the note matures january 1,2026
Assumint adjusting entries are made at the end of eacg month determine the balance in the interest payable acciunt at december 31,2025

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