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Included in Sandhill Companys December 31 trial balance is a note receivable of $12,600. The...

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Accounting

Included in Sandhill Companys December 31 trial balance is a note receivable of $12,600. The note is a 4-month, 10% note dated October 1. Prepare Sandhills December 31 adjusting entry to record $315 of accrued interest, and the February 1 journal entry to record receipt of $13,020 from the borrower.

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