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Martinez co borrowed $63,600 on March 1 of the current year by signing a 60-day, 5%, interest bearing note. Assuming a 360-day veat, when the
Martinez co borrowed $63,600 on March 1 of the current year by signing a 60-day, 5%, interest bearing note. Assuming a 360-day veat, when the note is paid on April 30, the entry for the payment should include a Round your answer to the nearest whole dollar Oa, debutto interest Payable for $530 Ob dobit to interest Expense for 3530 Occredito Cash for $65.600 Od credit to Cash for 566,780 MALLI introduction to Sus... G modified Four The current portion of long-term debt should Oa. be classified as a long-term liability b. be reclassified as a current liability Oc. be paid immediately Od not be separated from the long-term portion of debt Federal unemployment taxes are paid by the employer and the employee. True O False Amounts withheld from each employee for social security and Medicare vary by state. True False
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