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Exercise 10-03 On June 1, Crane Company Ltd. borrows $99,000 from Acme Bank on a...

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Accounting

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Exercise 10-03 On June 1, Crane Company Ltd. borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. The note matures on December 1. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation June 1 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO What was the total financing cost interest expense)? Total interest expense Click if you would like to Show Work for this question: Open Show Work

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