Question: Please explain how you got the answer. On October 1, Ken's Painting Service borrows $50,000 from National Bank on a 3-month, $50,000, 4% note. 24.

Please explain how you got the answer.

On October 1, Ken's Painting Service borrows $50,000 from National Bank on a 3-month, $50,000, 4% note. 24. What entry must Ken's Painting Service make on December 31 before financial statements are prepared

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