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Prepare the journal entry for September

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Question - On October 1, 2019, Allen Company borrowed $200,000 on a one-year, 6% note payable. The principal and interest will be paid on September 30, 2020. As of December 31, 2019, what are the (related) account balances (list the accounts and amounts, Debits or Credits) after adjusting entries have been made? Prepare the journal entry for September 30, 2020.

Reference no: EM132489206

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