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Business, 05.08.2021 17:30 drealtania21

On January 1, 2016, Tessa loaned $12,000 to another company on a three-year, 4% note. No interest was accrued in 2016. Cash will not be received for the interest until the end of the three-year period. The error was discovered before adjusting and closing entries were posted on December 31, 2017. Ignoring income taxes, what should be the correct journal entry on December 31

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On January 1, 2016, Tessa loaned $12,000 to another company on a three-year, 4% note. No interest wa...
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