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Prepare the necessary journal entries

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Reference no: EM133103887

Question - Prepare the necessary journal entries for the following transactions:

(a) On September 1, Bridgeport Company borrowed $154,800 from Dixion County Bank on a 6-month, 12% note.

(b) On December 31, Bridgeport Company accrued interest (assume adjusting entries are only made at the end of the year).

Reference no: EM133103887

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