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What is the required adjusting journal entry

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Problem

Jones Company has the following information: Current accounting year end = 12/31/X6 Borrowed this amount: $368,000 Borrowed on = 7/1/X6 Annual interest rate = 3%. The PRINCIPAL plus INTEREST is due = 7/1/X7. Get the instant assignment help. What is the required adjusting journal entry at December 31 of the current accounting period?

Reference no: EM133973096

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