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On December 1, Donaldson Company borrowed $10,000 from Pauline Company, giving a 60-day, 12% note. If the correct adjusting entry is made on December 31,
On December 1, Donaldson Company borrowed $10,000 from Pauline Company, giving a 60-day, 12% note. If the correct adjusting entry is made on December 31, Donaldson's entry at maturity is:
Select one:
A.Notes Payable | 10,000 |
Cash | 10,000 |
Notes Payable | 10,000 | |
Interest Payable | 100 | |
Interest Expense | 100 |
Cash | 10,200 |
Notes Payable | 10,000 | |
Interest Expense | 200 |
Cash | 10,200 |
Notes Payable | 10,000 | |
Interest Payable | 200 |
Cash | 10,200 |
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