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On January 1, 2016, a business borrowed $19,000 on a five-year, 6% note payable. At December 31, 2016, the business should record O A. interest
On January 1, 2016, a business borrowed $19,000 on a five-year, 6% note payable. At December 31, 2016, the business should record O A. interest payable of $1,140 B. cash payment of $19,000. O C. note receivable of $19,000 D. nothing. (The note is already on the books.)
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