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#12.... A business makes a payment of $1,200 on a note payable, consisting of a $200 intrest payment and a $1,000 principal payment. Which of
#12.... A business makes a payment of $1,200 on a note payable, consisting of a $200 intrest payment and a $1,000 principal payment. Which of the following journal entries would be recorded?
A. Notes payable 1,200
Cash 1,000
Intrest exp 200
B. Cash 1,200
Notes pay 1,000
Intrest exp 200
C. Notes pay 1,000
Intrest payable 200
Cash 1,200
D. Cash1,000
Notes pay 1,200
Intrest exp 200
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