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On November 1, 2014, Fain Corporation paid principal and interest on a 6-month, 8% note payable with a face amount of $5,000. How did this

On November 1, 2014, Fain Corporation paid principal and interest on a 6-month, 8% note payable with a face amount of $5,000. How did this transaction affect Fain's financial statements? image text in transcribed

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