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On January 1, 2018, Brazos Company purchased equipment and signed a six-year mortgage note for $93,000 at 15%. The note will be paid in equal

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On January 1, 2018, Brazos Company purchased equipment and signed a six-year mortgage note for $93,000 at 15%. The note will be paid in equal annual installments of $24,574, beginning January 1, 2019. On January 1, 2019, the journal entry to record the first installment payment will include a (Round your answer to the nearest whole number.) O A. credit to Cash for $10,624 O B. credit to Mortgage Payable for $93,000 OC. debit to Mortgage Payable for $24,574 OD. debit to interest Expense for $13,950

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