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On October 1, a company borrowed $50,000 from a bank for four months at 8%. Interest was properly accrued on December 31. The journal entry
On October 1, a company borrowed $50,000 from a bank for four months at 8%. Interest was properly accrued on December 31. The journal entry needed to record the payment of the note and interest on the due date includes O a debit to Interest Payable for $1,000. O a debit to Interest Payable for $2,000. a debit to Interest Payable for $333. O a debit to Interest Payable for $900. a debit to Interest Payable for $1,333
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