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On May 1, 2021, Townsley borrowed $250,000 from Prime Bank by signing a three-year, 6% note payabi What adjusting entry, if any, should Townsley

On May 1, 2021, Townsley borrowed $250,000 from Prime Bank by signing a three-year, 6% note payabi What adjusting entry, if any, should Townsley record on December 31, 2021? Multiple Choice O Debit Interest Expense and credit Interest Payable for $15,000. Debit Interest Expense and credit Interest Payable for $10,000.

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