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On October 1, Ycar 1, Hartford Company issued a $16,000 face value discount note. The note had a 4% discount rate and a one-year term
On October 1, Ycar 1, Hartford Company issued a $16,000 face value discount note. The note had a 4% discount rate and a one-year term to maturity. Which of the following would be included in the adjusting entry, dated December 31 , Year 1 , to recognize interest accrued since the issuance date? Mutiple Choice none of these answer choices are correct A credit to interest Payable for $160 A debit to Discount on Notes Payabie of $160 A debit to interest Expense for $160
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