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On November 1 , 2021, a company signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later
On November 1, 2021, a company signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. The company records the appropriate adjusting entry for the note on December 31, 2021. In recording the payment of the note plus accrued interest at maturity on May 1, 2022, the company's journal entries would include a
Select one:
A. Debit to Cash
B. Debit to Interest Expense
C. Credit to Interest Expense
D. Credit to Notes Payable
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