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A $20,000,9%,3-month note 5 points payable was issued on November 1 . If interest is paid at maturity, the adjusting entry on December 31 will

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A $20,000,9%,3-month note 5 points payable was issued on November 1 . If interest is paid at maturity, the adjusting entry on December 31 will include: A debit to Interest Expense for $300. A credit to Interest Payable for $1,800 A debit to Interest Expense for $450. A credit to Interest Payable for $600

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