Draxon company borrowed 20000 from the bank signing a 6, Ask an Expert

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Draxon Company borrowed $20,000 from the bank signing a 6%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be ?

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Category:- Accounting Basics
Reference No.:- M9409280

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