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On 1 June Smart Business borrowed $24,000 from the bank at an interest rate of 10%. At the end of June Smart bank had not

On 1 June Smart Business borrowed $24,000 from the bank at an interest rate of 10%. At the end of June Smart bank had not paid any interest to the bank. Using months to calculate interest, the appropriate entry is Select one: a. Cash + $200 Interest Expenses +$200 b. Interest Expense + $200 Accrued Expenses +$200 c. Accounts Payable +$200 Interest Expense +$200 d. Cash - $200 Interest Expense +$200

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