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On August 15, 2022, Kinney Industries signs a $200,000, 8%, twelve-month note payable.Which of the following entries correctly records the accrued interest on December 31, 2022?
Concrete
Pertaining to or characterized by material objects, not abstract; tangible, real, or specific.
Bookkeeping
The systematic recording, organizing, and maintaining of financial transactions for an individual or an organization.
Schema Change
The modification or updating of cognitive frameworks or mental structures that are used to organize information, usually in response to new information or experiences.
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