A company borrowed $50,000 on November 1,Year 1,at 9% interest.The interest and principal are due on October 31,Year 2.
Prepare the company's journal entries on November 1,Year 1,December 31,Year 1,and October 31,Year 2.

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The Answer of A company borrowed $50,000 on November 1,Year 1,at 9% interest.The interest and principal are due on October 31,Year 2.
Prepare the company's journal entries on November 1,Year 1,December 31,Year 1,and October 31,Year 2.

A Company Borrowed $50,000 on November 1,Year 1,at 9% Interest