On September 1, 2014, a company issued a $50,000, 6-month, 9% note payable to purchase...
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Accounting
On September 1, 2014, a company issued a $50,000, 6-month, 9% note payable to purchase a piece of equipment. The company pays the note with interest at the maturity date.
What is the adjusting journal entry at December 31 to record the accrued interest on the note payable?
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