Preapre a record the initial entry and the adjustment

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Point 1. On April 1, 2019, Abt Associates loaned another company, Plainville Company, $37,000. The interest on the loan is 6% and both the interest and the loan will be paid twenty four months later on March 31, 2021.

Question 1: Record the initial entry and the adjustment needed on December 31, 2019.

Reference no: EM132462728

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