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On December 11, Year 1, Reeves gave a $60,000, 60-day, 9% note to Cainas in payment of an account. On December 31, Year 1, Cainas

On December 11, Year 1, Reeves gave a $60,000, 60-day, 9% note to Cainas in payment of an account. On December 31, Year 1, Cainas should record:

A. $900 interest expense

B. $900 interest income

C. $300 interest expense D. $300 interest income

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