Record the adjustment for interest

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Reference no: EM132234541

Question - On June 30, the company lends its chief financial officer $47,000; principal and interest at 7% are due in one year.

Record the adjustment for interest.

For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year.

Reference no: EM132234541

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