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$208,000 Question 15 4 pts On November 1, Year 1, Cloud Breaker Co, borrowed $200,000 cash on a 1-year, 6% note payable that requires Cloud
$208,000 Question 15 4 pts On November 1, Year 1, Cloud Breaker Co, borrowed $200,000 cash on a 1-year, 6% note payable that requires Cloud Breaker to pay both principal and interest on October 31, Year 2. Given no prior adjusting entries have been recorded, the adjusting journal entry on December 31, Year 1 for Cloud Breaker would include a: O Credit to Interest Payable of $2,000. Debit to Interest Expense of $12,000. O Credit to Note Payable of $2,000. O Credit to cash of $2,000
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