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Discountca signed a 12 -year note payable on January 1,2018,0 of $840,000. The note requires annual principal payments each Decernber 31 of $70,000 plus interest
Discountca signed a 12 -year note payable on January 1,2018,0 of $840,000. The note requires annual principal payments each Decernber 31 of $70,000 plus interest at 14%. The entry to rocord the annual payment on December 31, 2019, includes A. a credit to Noles Payable for $70,000 B. a debit to Interest Expense for $117.600. c. a debit to Interest Expense for $107,800. D. a credit to Cash of $187,600
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