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Interpret the following journal entry: Interest Expense 500 Cash 500 A) Company has an outstanding loan of $500. B) The company took out a loan

Interpret the following journal entry: Interest Expense 500 Cash 500 A) Company has an outstanding loan of $500. B) The company took out a loan for $500. C) Company has an outstanding loan payable that require payment of interest at the maturity date. D) The loan payable requires a payment of interest every period.

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