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  3. xyz co. borrows $50,000 for one year at 5% on sept

XYZ Co. borrows $50,000 for one year at 5% on September 1. What accrual entry...

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Accounting

XYZ Co. borrows $50,000 for one year at 5% on September 1. What accrual entry should be made at December 31?

And when the debt is paid in full on the following August 31, what entry should be made?

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