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On November 1, 2011 the company borrowed SAR 90,000 loan from bank for 12 months. The annual interest rate is 5%. The necessary adjusting entry

On November 1, 2011 the company borrowed SAR 90,000 loan from bank for 12 months. The annual interest rate is 5%. The necessary adjusting entry in December 31, 2011. would be:

a. Interest Expense (Dr.) 450 Interest payable (Cr.) 450

b.Interest Expense (Dr.) 750 Interest payable (Cr.) 750

C.Interest Expense (Cr.) 450 Interest payable (Dr.) 450

d. Interest Expense (Cr.) 750 Interest payable (Dr.) 750

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