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What entry was made at the end of the year - december

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Steve's BarBQ borrowed $10,000 to start the business on October 1, 2019. The interest and principal were to be paid in March 2021. The interest rate is 7% annually.

Question 1: What entry was made at the end of the year - December 31, 2019? Make the entry in proper form.

Reference no: EM132523011

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