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On December 1, Burrows, Inc., borrowed money from a bank. The bank requires Burrows to pay the interest and the principal at the end
On December 1, Burrows, Inc., borrowed money from a bank. The bank requires Burrows to pay the interest and the principal at the end of six months. As a result, the year-ended December 31 financial statements will report 000 Interest Expense on the Income Statement Interest Revenue on the Balance Sheet Notes Payable on the Statement of Shareholders' Equity Interest Expense on the Balance Sheet Notes Payable on the Balance Sheet Notes Payable on the Income Statement (Select all that apply.)
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