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On January 1 of this year, Saratoga Bank agrees to lend Tilbury Corp. $150,000. Tilbury Corp. signs a $150,000, 4%, 9-month loan. Interest is due at maturity.
-What is the adjusting entry required if Tilbury Corp prepares financial statements on June 30? Use the following information for questions On January 1 of this year, Saratoga Bank agrees to lend Tilbury Corp. $150,000. Tilbury Corp. signs a $150,000, 4%, 9-month loan. Interest is due at maturity. -What is the adjusting entry required if Tilbury Corp prepares financial statements on June 30?

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