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On march 2013 xyz company borrowed 50000 and gave the bank

Question - On March, 2013, XYZ Company borrowed $50,000 and gave the bank a promissory note with an intrest rate of 6%, interest payable monthly, and the note was due November 30, 2013. XYZ Company paid interest for March through June, charging Intrest Expense.

What is the adjusting entry on May 31, 2013, the end of the fiscal year?

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Accounting Basics: On march 2013 xyz company borrowed 50000 and gave the bank

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Accounting Basics: On march 2013 xyz company borrowed 50000 and gave the bank

Reference No:- TGS02812398

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