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On July 1, the company borrowed 512.000 by signing a one-year notes payable, the interest rate is 89. The adjusting journal entry on July 31

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On July 1, the company borrowed 512.000 by signing a one-year notes payable, the interest rate is 89. The adjusting journal entry on July 31 is: OA (Dr. Interest Payable 80) & (Cr. Interest Expense 80) OB. (Dr. Interest Expense 80) & (Cr. Interest Payable 80) O C. (Dr. Interest Payable 960) & (Cr. Interest Expense 960) D. (Dr. Interest Expense 960) & (Cr. Interest Payable 960)

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