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Buzzard borrowed $40,500 on March 1, 2021. The principal is due to be collected in five years. Interest is receivable each March 1 at an annual rate of 10%. Record the adjusting entry for interest at its
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Buzzard borrowed $40,500 on March 1, 2021. The principal is due to be collected in five years. Interest is receivable each March 1 at an annual rate of 10%. Record the adjusting entry for interest at its year-end of December 31.

User Dave Clark
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Answer:

40,500 on March 1,2021 theoriincipal

User Akatran
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