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Prepare the journal to record the repayment of the loan

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Question - On 4/15/2015, K. Plumbers took a loan of $120,000 and issued a note payable for 90 days at 7%. The fiscal year ended on 6/30/2015. Prepare the journal to record the repayment of the loan after the 90days loan period. (Note: You must reflect the end of year adjustment, under the matching concept.)

Reference no: EM131609696

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