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Holiday gifts signs a three-month note payable to finance increases in inventory for the christmas shopping season. the note is signed on november 1 in the amount of $75600 with annual interest of 9%. what is the adjusting entry to be made on december 31 for the interest expense accrued to that date, if no entries have been made previously for the interest?
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Holiday gifts signs a three-month note payable to finance increases in inventory for the christmas...
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