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What would be the general and adjusting entries for this? 7. June 30th, paid $75,000...

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Accounting

What would be the general and adjusting entries for this?

7. June 30th, paid $75,000 for a building (estimated useful life of 40 years; salvage

value = $5,000) by signing a 5 year Note Payable, promising to pay 5% interest at

the end of each of those 5 years (i.e. on June 30th of each year).

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