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On July 1, 20X8, your company borrowed $20,000 on a four-year, 6% note payable. December 31, 20X8, a journal entry should be made to record

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On July 1, 20X8, your company borrowed $20,000 on a four-year, 6% note payable. December 31, 20X8, a journal entry should be made to record A. a note payable of $20,000. B. interest payable of$1,200. C. interest payable of $600. D. cash payment of $1,200. 2

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