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On May 22, Jarrett Company borrows $9,300, signing a 90 -day, 8%,$9,300 note. What is the journal entry made by Jarrett Company to record the
On May 22, Jarrett Company borrows $9,300, signing a 90 -day, 8%,$9,300 note. What is the journal entry made by Jarrett Company to record the payment of the note on the maturity date? Multiple Choice Debit Notes Payable $9,486; credit Cash $9,486. Debit Notes Payable $9,300; debit Interest Expense $186; credit Cash $9,486. Debit Cash $9,486; credit Interest Revenue $186; credit Notes Receivable $9,300. Debit Notes Payable $9,300; credit Interest Expense $186; credit Cash $9,114. Debit Notes Payable $9,300; credit Cash $9,300
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