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Item33
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Time Remaining 27 minutes 3 seconds
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Item 33
Time Remaining 27 minutes 3 seconds
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TB MC Qu. 220 (Algo) On December 1, Milton Company borrowed...
On December 1, Milton Company borrowed $470,000, at 6% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures one year from the issue date. What is the adjusting entry for accruing interest that Milton would need to make on December 31, the calendar year-end?
Multiple Choice
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