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Multiple Choice TB MC Qu. 02-158 (Algo) On August 1, Year 1, Gomez Company borrowed... On August 1, Year 1, Gomez Company borrowed $69,600 cash.

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Multiple Choice TB MC Qu. 02-158 (Algo) On August 1, Year 1, Gomez Company borrowed... On August 1, Year 1, Gomez Company borrowed $69,600 cash. The one-year note carried a 5% rate of interest Which of the following shows how the December 31 , Year 1, recognition of accrued interest will affect Gomez's financial statements

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