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help on accounting problem Rafael Company borrowed $24,000 from Bank of jane on December 1, 2019, and signed a 90 day. 39% Notes Payable. If
help on accounting problem
Rafael Company borrowed $24,000 from Bank of jane on December 1, 2019, and signed a 90 day. 39% Notes Payable. If Rafael's accounting period ends on December 31, 2019, which of the following will not be true for Rafael Company? Select one: A. On March 1, 2020, Rafael will debit Interest Payable for $320 B. On March 1, 2020, Rafael will debit Interest Expense for 5320 C. On December 31, 2019. Rafael will credit Interest Payable for $160 D. On December 31, 2019, Rafael will debit Interest Expense for $160 0Step by Step Solution
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