Use the Following Information for Questions $(\$ 80,000 \times 04 / 12=\$ 267$

question 18

Multiple Choice

Use the following information for questions.
On October 1, 2018, Mekhi's Golf Service Limited borrows $80,000 from Rigor Bank by signing a 3-month, $80,000, 4% bank loan. Interest is due the first of each month.
-What adjusting entry is required at December 31, 2018?

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Definitions:

Inside Address

The address of the recipient as it appears in a formal letter, typically placed just below the sender's address or letterhead.

Page Number

A numeral or a series of numerals used to indicate the sequence of pages in a book or document.

Formal Report

A detailed, structured written document used in a professional setting to convey research, findings, or recommendations.

Simplified Letter Format

A format for letters that is straightforward and easy to understand, often used to enhance readability.