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What would be the adjusting entry on December

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Reference no: EM132997877

Question - Hatfield Company purchased a building for $90,000 on December 1 in exchange for a six-month loan at 7% with interest and note to be paid six-months later. Assuming the company uses the accrual basis method, what would be the adjusting entry on December 31?

Reference no: EM132997877

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