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A company borrows $15,000 at 8% interest for 3 months on June 1. If adjusting entries are written on June 30,?

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a)$300

b)$1,200

c)$900

d)$100

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  1. d) $100

    8% interest is $1200 for 1 year, it is $300 for 3 months, and at the end of the first month, it is $100.

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