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Barber Company Lends Monroe Company $40,000 on April 1, Accepting

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Barber Company lends Monroe Company $40,000 on April 1, accepting a four-month, 6% interest note.Barber Company prepares financial statements on April 30.What adjusting entry should be made before the financial statements can be prepared? Barber Company lends Monroe Company $40,000 on April 1, accepting a four-month, 6% interest note.Barber Company prepares financial statements on April 30.What adjusting entry should be made before the financial statements can be prepared?

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