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Provide acme adjusting entry

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On Nov 1, 2019, Acme Company sold equipment to customer with a sales price of $75,000. The customer paid $50,000 and signed a note promising to pay the balance in 12 months. The note carried an interest rate of 12%.

Question 1: Provide Acme's adjusting entry for Dec 31, 2019

Reference no: EM132579833

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