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Under the accrual accounting what adjustment should reese

Question - Reese Company loaned $60,000 to another company on December 1, 2004 and received a twelve-month, 8% interest-bearing note. Interest and principal will be due on November 30, 2005. Under the accrual accounting, what adjustment should Reese make on December 31, 2004?

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Accounting Basics: Under the accrual accounting what adjustment should reese

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