On December 1, Miller Company borrowed $900,000, at 8% annual interest, from the Nomo Bank. Miller has 90 days before


On December 1, Miller Company borrowed $900,000, at 8% annual interest, from the Nomo Bank. Miller has 90 days before the first payment is required. What is the adjusting entry that Miller would need to make on December 31, the calendar year-end? (Use 360 days in a year.)


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