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On November 16, RSF Enterprises borrowed $45,000 form First Bank. The terms of the note were 90 days at 12% interest. RSF's accounting period follows

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On November 16, RSF Enterprises borrowed $45,000 form First Bank. The terms of the note were 90 days at 12% interest. RSF's accounting period follows the calendar year. The journal entry to record the event on December 31 includes: O a credit to Interest Payable for $675. None of the answers are correct. O a credit to cash for $675. O No journal entry is made. a credit to Note Payable for $675

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