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On November 3 0 , a company borrowed $ 1 , 0 0 0 by issuing a 1 - year note with interest and principal
On November a company borrowed $ by issuing a year note with interest and principal due at the end of the year period. The interest on the note should be expensed
Multiple choice question.
over the months the note is unpaid
immediately when the notes payable was issued, November
when the interest is paid, a year later
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