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Make the adjusting entry at december

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Reference no: EM132485461

The following unadjusted accounts are taken from the records of Brown Corp. at December 31, 2019:

  1. Bank Loan 201 Interest Expense 632 Interest Payable 222 12,000 200 100

Additional Information: The bank loan bears interest at 6% per year. It was obtained on April 1, 2019. Payment in full is due on March 31, 2020.

Required:

Question 1: Prepare the adjusting entry at December 31, 2019

Reference no: EM132485461

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