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For solution 8524441_Solution.xlsx, question 28 is: 28. During 2005, Sunrise Foods, Inc. records an interest expense of $5,000, and pays $2,000 of it in cash.

For solution 8524441_Solution.xlsx, question 28 is: 28. During 2005, Sunrise Foods, Inc. records an interest expense of $5,000, and pays $2,000 of it in cash. How should this accounting transaction be recorded? Debit interest expense $5,000; credit cash $2,000; credit taxes payable $3,000 Debit interest expense $5,000; credit cash $2,000; credit interest payable $3,000 Debit various debt accounts $5,000; credit cash $2,000; credit interest payable $3,000 Debit interest expense $5,000; credit cash $2,000; credit various debt accounts $3,000

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