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Prepare pronghorn december adjusting entry

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Included in Pronghorn Company's December 31 trial balance is a note receivable of $9,360. The note is a 4-month, 10% note dated October 1.

Question 1: Prepare Pronghorn's December 31 adjusting entry to record $234 of accrued interest, and the February 1 journal entry to record receipt of $9,672 from the borrower.

Reference no: EM132572943

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