Question: Problem (5) 15 Points On October 1, a company lends $10,000 to an employee who signs a 9%, 2 years promissory note. The company is

Problem (5) 15 Points

On October 1, a company lends $10,000 to an employee who signs a 9%, 2 years promissory note. The company is preparing its year-end financial statements on December 31. No adjusting entries have been recorded in connection with this note.

Required

Write the adjusting entry that should be recorded before the financial statements are prepared.

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