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5) Referring to Table 11-1, what is the amount of interest expense recorded in 2014? A) $98.63 B) $193.97 C) $101.92 D) $120.00 6) Referring

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5) Referring to Table 11-1, what is the amount of interest expense recorded in 2014? A) $98.63 B) $193.97 C) $101.92 D) $120.00 6) Referring to Table 11-1, the entry on the maturity date would include a: A) credit to Interest Payable for $98.63. B) debit to Interest Expense for $98.63. C) credit to Note Payable for $10,295.89. D) credit to Cash for $10,000. 7) Stardust Company issued a five-year, interest-bearing note payable for $50,000 on January 1, 2013. Each January, Stardust is required to pay $10,000 principal on the note. What is the amount that will be reported on the current portion of long-term notes payable on the December 31, 2014 balance sheet? A) $10,000 B) $40,000 C) $30,000 D) $20,000

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