Question: On October 1, Kenny Inc. signed a $50,000 note payable with First County Bank. As of October 31, $250 of interest has accrued. Prepare the

  1. On October 1, Kenny Inc. signed a $50,000 note payable with First County Bank. As of October 31, $250 of interest has accrued.

Prepare the adjusting journal entry required at October 31.

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