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Collier borrowed $175,000 on October 1 and is required to pay $180,000 on March 1. What amount is the note payable recorded at on October

Collier borrowed $175,000 on October 1 and is required to pay $180,000 on March 1. What amount is the note payable recorded at on October 1 and how much interest is recognized from October 1 to December 31? a. $175,000 and $ 0 b. $175,000 and $ 3,000 c. $180,000 and $ 0 d. $175,000 and $ 5,000

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