Cutes National Bank agrees to lend Sunny Screen Company $ 80,000 on January 1. Sunny Screen Company signs an $ 80,000, 9-month, 5% note. What is the adjusting entry required if Sunny Screen Company prepares financial statements on June 30?

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The Answer of Cutes National Bank agrees to lend Sunny Screen Company $ 80,000 on January 1. Sunny Screen Company signs an $ 80,000, 9-month, 5% note. What is the adjusting entry required if Sunny Screen Company prepares financial statements on June 30?

Cutes National Bank Agrees to Lend Sunny Screen Company