Short Answer
Algonquin Provincial Bank agrees to lend Grimwood Brick Company $80,000 on January 1. Grimwood Brick Company signs an $80,000, 9-month, 5% note.
-What entry will Grimwood Brick Company make to pay off the note and interest at maturity assuming that interest has been accrued to September 30?
Correct Answer:

Verified
Correct Answer:
Verified
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