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Amelia enterprises borrowed $40,000 on march 1st of the current year by signing a 2 month, 9% interest bearing note. assuming that no entries for
Amelia enterprises borrowed $40,000 on march 1st of the current year by signing a 2 month, 9% interest bearing note. assuming that no entries for interest have been recorded to date, when the note is paid on april 30th, the entry to record the payment on amelia's books should include
A. Interest Expense 3600
B. Interest Expense 600
C. Interest Revenue 3600
D. Interest Revenue 600
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