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On January 1, BBA borrows $192,000 from Citizen Bank. The loan is due in one year along with APR of 8% interest. The company is

On January 1, BBA borrows $192,000 from Citizen Bank. The loan is due in one year along with APR of 8% interest. The company is preparing its quarterly report for March 31. Explain that what best describes the necessary accrual for interest expense?

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