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Question: Now that you have completed the June bank reconciliation process, you are asked to complete the worksheet for Extremely Board. The worksheet is an internal document that exists outside the journals and ledgers. It is often used in the manual accounting system to help record adjusting entries and prepare financial statements. After you have prepared the worksheet, in the next section of the practice set you will be asked to use the completed worksheet to help journalize and post adjusting entries to general ledger. You will also use this worksheet to assist you in preparing the financial statements for Extremely Board in a later section of this practice set.
Interest is paid semiannually. What was interest expense at the effective interest rate on June 30, the first interest date
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