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ABC borrows money from a local bank on July 1 , 2 0 1 6 . The loan is for $ 1 0 0 ,
ABC borrows money from a local bank on July The loan is for $ and the annual interest rate is with repayment of the loan and interest scheduled for June Assuming that the only entries made prior to June were the entries on July to record the origination of the loan and on December to record the accrual of interest on the loan, what is the entry necessary for ABC to record the repayment of the loan and interest on June Group of answer choices Debit Loan Payable $ Debit Interest Expense $ Credit Cash $ Debit Loan Payable $ Credit Cash $ Debit Loan Payable $ Debit Interest Expense $ Debit Interest Payable $ Credit Cash $ Debit Loan Payable $ Debit Interest Expense $ Credit Cash $
ABC borrows money from a local bank on July The loan is for $ and the annual interest rate is with repayment of the loan and interest scheduled for June Assuming that the only entries made prior to June were the entries on July to record the origination of the loan and on December to record the accrual of interest on the loan, what is the entry necessary for ABC to record the repayment of the loan and interest on June
Group of answer choices
Debit Loan Payable $
Debit Interest Expense $
Credit Cash $
Debit Loan Payable $
Credit Cash $
Debit Loan Payable $
Debit Interest Expense $
Debit Interest Payable $
Credit Cash $
Debit Loan Payable $
Debit Interest Expense $
Credit Cash $
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