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On October 1, Alfred Co borrowed $200,000 from Community Bank on a 6-month, 12% note. The adjusting entry for December 31 would include a debit

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On October 1, Alfred Co borrowed $200,000 from Community Bank on a 6-month, 12% note. The adjusting entry for December 31 would include a debit of? Interest Expense for $12,000 Notes Payable for $6,000 Interest Payable for $12,000 Interest Expense for $6,000

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