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On October 1, 2025, Conway, Inc. borrowed $210,000 by signing a nine-month, 3% note payable. Interest was accrued on December 31, 2025. What is the
On October 1, 2025, Conway, Inc. borrowed $210,000 by signing a nine-month, 3% note payable. Interest was accrued on December 31, 2025. What is the journal entry on July 1, 2026, the date the note was paid?
Please note that I have already answered this question, and I had gotten the question marked wrong after selecting option C as my answer.
On October 1, 2025, Conway, Inc. borrowed $210,000 by signing a nine-month, 3% note payable. Interest was accrued on December 31, 2025. What is the journal entry on July 1, 2026, the date the note was paid? O A. Notes Payable Interest Expense Cash 210,000 4.725 214,725 OB. Notes Payable Interest Expense Interest Payable Cash 210,000 3.150 1,575 214,725 O C. Notes Payable Interest Payable Interest Expense Cash 210,000 3.150 1,575 214,725 OD. Notes Payable Interest Payable Cash 210,000 4.725 214,725Step by Step Solution
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