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On October 1 2018, Highview company borrows $219,000 on a three-year note that requires the company to pay 12% interest on March 31 and September
On October 1 2018, Highview company borrows $219,000 on a three-year note that requires the company to pay 12% interest on March 31 and September 30. On December 31 2018, the adjusting entry to accrue interest on the note should debit
A. Interest payable and credit interest expense for $6,570
B. Interest expense and credit cash for $13,140
C. Interest expense and credit interest payable for $6,570
D. Interest expense and credit interest payable for $13,140
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