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Greenco signed a 12-year note payable on January 1, 2018, of $720,000. The note requires annual principal payments each December 31 of $60,000 plus interest
Greenco signed a 12-year note payable on January 1, 2018, of $720,000. The note requires annual principal payments each December 31 of $60,000 plus interest at 15%. The entry to record the annual payment on December 31, 2021, includes OA. a credit to Cash of $168,000. O B. a debit to Interest Expense for $81,000. C. a credit to Notes Payable for $60,000. a debit to Interest Expense for $108,000. O D
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