allen incorporated took out a one-year, 8%, $100,000 loan on march 31, 2024. interest is due upon maturity of the loan. what adjusting entry, if any, should allen incorporated record on december 31, 2024?

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Mallorytaylor6667idn Mallorytaylor6667idn

04-11-2022
Business

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allen incorporated took out a one-year, 8%, $100,000 loan on march 31, 2024. interest is due upon maturity of the loan. what adjusting entry, if any, should allen incorporated record on december 31, 2024?

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