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On October 1, Lee Company borrowed $50,000 on a 10%, 9-month note. Lee Company prod December 31st Lee recorded interest of $1,250. The correct entry
On October 1, Lee Company borrowed $50,000 on a 10%, 9-month note. Lee Company prod December 31st Lee recorded interest of $1,250. The correct entry on Lee Company's books at mus include a debit to: (Assume no reversing entries were made.) Interest Expense for $1,250 O Interest Expense for $2,500 O Interest Expense for $5,000 O Interest Payable for $2,500 Interest Payable for $3,750 833
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