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Martinez Co. borrowed $57,280 on March 1 of the current year by signing a 60-day, 11%, interest- bearing note. Assuming a 360-day year, when the

Martinez Co. borrowed $57,280 on March 1 of the current year by signing a 60-day, 11%, interest- bearing note. Assuming a 360-day year, when the note is paid on April 30, the entry to record the payment should include a a. debit to Interest Payable for $1,050. b. debit to Interest Expense for $1,050. c. credit to Cash for $57,280. d. credit to Cash for $63,581

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