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Boulder Company borrowed $27.000 on May 1, 20X1. The loan has an annual interest rate of Boulder Company repaid the loan in ton (both principal

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Boulder Company borrowed $27.000 on May 1, 20X1. The loan has an annual interest rate of Boulder Company repaid the loan in ton (both principal and interest) on March 31, 20x2. No payments were made on the loan between May 1 2nd March 31, 20x2 Note: The correct adjusting entry with respect to this loan was recorded on December 32013 The single journal entry to record the repayment of the loan (both principal and interest on March 31, 20X2 Indudes which of the following? ACREDIT to Interest Payable for $27.000 O ACREDIT to interest Payable for $945 O A DEBIT to interest Payable for $945 ACREDIT to interest Payable for $2.520 O A DEBIT to Interest Expense for $945 A DEBIT to Loan Payable for $30465 O A CREDIT to interest Expense for $945 O A CREDIT to Loan Payable for $27.000

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