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Jim's Jambs, Inc., recorded an adjusting entry for the $15 of interest it owes on its $3,000 note payable. Show the effect of this transaction
Jim's Jambs, Inc., recorded an adjusting entry for the $15 of interest it owes on its $3,000 note payable. Show the effect of this transaction on total Assets, Liabilities, Stock and/or Retained Earnings and the account titles. If no effect, select "$0 No Effect". Assets Liabilities Stock Retained Earnings A. $(15) Notes Payable B. $15 Interest Payable C. $0 No Effect D. $15 Cash E. $(15) Cash F. $(15) Interest Expense G. $15 Interest Expense
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