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Journal entry worksheet Income taxes for the year total $42 , 000 but won't be paid until next
April 15. Record the adjusting entry for income taxes at its year-end of December 31. Note:
Enter debits before credits. Journal entry worksheet On June 30 , the company lent its chief
financial officer $50 , 000 ; principal and interest at 7% are due in one year. Record the adjusting
entry for interest at its year-end of December 31 . Note: Enter debits before credits.

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