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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 transaction on November 16 includes: Two of the answers are correct. O a credit to Note Payable for $45,000 O a debit to Discount for $1,350. a debit to Interest Expense for $1,350. O a debit to Cash for $45,000

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