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If cash is borrowed on a $50,000, 6-month, 12% note on September 1, What is included in the journal entry on the due date? Multiple
If cash is borrowed on a $50,000, 6-month, 12% note on September 1, What is included in the journal entry on the due date?
Multiple choice of :
Debit to Interest Expense for 3,000
Debit to Interest Expense for 1,000
Debit to Interest Revenue for 1,000
Debit to Interest Revenue for 3,000
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