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On december 1, casualty insurance company borrowed $50,000 at a 6.0% interest rate from one mutual bank. the note payable plus interest will not be paid until april 1 of the following year. the company's annual accounting period ends on december 31 and adjustments are only made at year-end. the adjusting entry needed on december 31 is
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On december 1, casualty insurance company borrowed $50,000 at a 6.0% interest rate from one mutual b...
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