On October 1, 2015, Jacobs Beach Umbrellas borrowed $10,000 on a 12%, one-year note payable....
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Accounting
On October 1, 2015, Jacobs Beach Umbrellas borrowed $10,000 on a 12%, one-year note payable. Interest was payable semiannually. A correct adjusting entry was made on December 31, 2015, and a correct reversing entry was made on January 1, 2016. The entry that should be made on March 31, 2016, is
