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In the current fiscal year, the company has obtained a new loan, and interest started accumulating immediately but has not yet been paid. Which of
In the current fiscal year, the company has obtained a new loan, and interest started accumulating immediately but has not yet been paid. Which of the following entries is correct when recording the loan, and when recording interest accrual? O O O O Credit to Cash, debit to Notes Payable; credit to Interest Expense, credit to Interest Payable. Credit to Cash, credit to Notes Payable; debit to Interest Expense, credit to Interest Payable. Debit to Cash, credit to Notes Payable; debit to Interest Payable, credit to Interest Expense. Debit to Cash, credit to Notes Payable; debit to Interest Expense, credit to Interest Payable
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