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Marshell Company borrowed $50,000 on November 1, 2018, by signing a zero interest bearing $54,000, 3-month note. Journal entry on December 31, 2018 will be:

"Marshell Company borrowed $50,000 on November 1, 2018, by signing a zero interest bearing $54,000, 3-month note. Journal entry on December 31, 2018 will be:"

"Debit interest expense, Credit Cash"

"Debit interest expense, credit notes payable"

"Debit interest expense, credit interest payable"

None of these

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