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Choose the right answer: Payment of interest is considered an operating activity on the statement of cash flows. The adjusting entry to recognize interest expense
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Payment of interest is considered an operating activity on the statement of cash flows. | ||
The adjusting entry to recognize interest expense is an asset use transaction. | ||
An eight-month, 6% note for $10,000 will require the issuer to pay $600 in interest. | ||
Interest expense is considered an operating expense on the income statement. |
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