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On November 1, 2019, Bob's Burgers signed a $300,000,6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May

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On November 1, 2019, Bob's Burgers signed a $300,000,6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2020. The appropriate adjusting entry was recorded on Dec 31, on May 1, 2020 while recording the journal entry for the repayment Bob's Burgers will have the following for interest payable and interest expense D A Note Payable 5300,000 Interest Expono $6,000 Interest Payable $3.000 Cash $309,000 OB Note Payable $300,000 Inorou Expense $6.000 Interest Payable $3,000 Cash 5303.000 Note Payable $300,000 Interest Expono 57,500 Interest Payable 51.500 Cash $300.000 D.Nota Payable 5300,000 Interest Expen $9.000 Cash $309,000

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