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On July 1, 2020. Alfa Limited borrowed $600,000 from a bank for a 6 -year period at a 12% interest rate. The firm must make
On July 1, 2020. Alfa Limited borrowed $600,000 from a bank for a 6 -year period at a 12% interest rate. The firm must make a fixed monthly loan payment of $11.730. Which of the followings is correct when recording monthly loan payment for account Bank Loan Payable on July 31,2020 ? Debit Bank Loan Payable $6,000. Debit Bank Loan Payable $11,730. Debit Bank Loan Payable $5,730. Debit Bank Loan Payable $4,530
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