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6. Nano Company borrowed $240,000 cash on May 7, 2022, and signed a 105-day, 5%, note payable with interest payable at maturity. Which of
6. Nano Company borrowed $240,000 cash on May 7, 2022, and signed a 105-day, 5%, note payable with interest payable at maturity. Which of the following would be the required adjusting entry made on May 31, 2022? Use 360- day year and round your answer to the nearest dollar. a. Dr. Interest Expense b. Dr. Interest Expense Cr. Interest Payable Cr. Interest Payable c. Dr. Notes Payable Dr. Interest Expense Cr. Cash d. Dr. Interest Payable Cr. Interest Expense 800 800 3,500 3,500 240,000 800 240,800 3,500 3,500
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