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    Exam 2: A Review of the Accounting Cycle
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    A Company Loaned $6,000 to Another Corporation on December 1,Year
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A Company Loaned $6,000 to Another Corporation on December 1,Year

Question 98

Question 98

Short Answer

A company loaned $6,000 to another corporation on December 1,Year 1,and received a 90-day,10 percent,interest-bearing note with a face value of $6,000.The lender's December 31,Year 1,adjusting entry is
A company loaned $6,000 to another corporation on December 1,Year 1,and received a 90-day,10 percent,interest-bearing note with a face value of $6,000.The lender's December 31,Year 1,adjusting entry is

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