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Prepare general journal adjusting entry for interest expense

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Question: On January 1, 20X1, Bravo Company borrowed $26,000 to purchase equipment. The loan is to be repaid plus interest of 10% per year, on December 31, 20X2. Prepare the general journal adjusting entry for interest expense (without explanation) needed for December 31, 20X1.

Reference no: EM132748081

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