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Chu Company paid Kelley Company for merchandise with a $24,000, 60-day, 9% note dated April 1. If Chu Company pays the note at maturity, what
Chu Company paid Kelley Company for merchandise with a $24,000, 60-day, 9% note dated April 1. If Chu Company pays the note at maturity, what entry should Kelley make at that time? Select one: O . O Cash B. Cash OC O Interest income Notes receivable Interest income Notes receivable Notes payable Interest expense Cash D. Notes payable Interest expense Cash 26,160 24,360 24,000 2,160 23,640 360 2,160 24,000 360 24,000 26,160 24,000
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