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Kemaining Time: 55 minutes, 59 seconds. Question Completion Status: Lo POTICS Wave RS ve On January 1, Macy's borrows $115,000 from TD Bank. The loan

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Kemaining Time: 55 minutes, 59 seconds. Question Completion Status: Lo POTICS Wave RS ve On January 1, Macy's borrows $115,000 from TD Bank. The loan is due in one year along with 4% interest. The company is preparing its report for the first quarter ending March 31. Which of the following best describes the necessary accrual for interest expense? $1,150 increase liabilities, increase expenses $4,600 decrease liabilities, decrease cash $1,150 increase expenses, decrease cash $4,600 increase liabilities, decrease expenses Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit

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