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Prepare the entry on june 1 prepare the adjusting entry on

On June 1, Padilla Pasta borrows $80,000 from First Bank on a six-month, $80,000, 12 percent note.

Instructions

(a) Prepare the entry on June 1.

(b) Prepare the adjusting entry on June 30.

(d) What was the total financing cost (interest expense)?

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Cost Accounting: Prepare the entry on june 1 prepare the adjusting entry on

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Cost Accounting: Prepare the entry on june 1 prepare the adjusting entry on

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