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Tan Traders is owed $350 interest on an investment which has not been received by 3l December 2014, the last day of the accounting year. The adjusting entry is which of the following?
Partnership Debts
Liabilities or financial obligations incurred by a partnership in the course of its business activities.
Limited Liability
This refers to a business structure where the owners' personal assets are protected from company debts and liabilities.
Sole Proprietorship
A company that is both owned and run by one person, with no separate legal identity between the proprietor and the business itself.
Separate Legal Entity
A business structure that is legally considered an independent entity separate from its owners, such as a corporation or LLP.
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