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On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjusting entries have been
On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjusting entries have been recorded, Sky Mountain's adjusting entry four months later at December 31 would include a: debit to Interest Expense of $3,000. O debit to Interest Expense of $12,000. O debit to Interest Expense of $9,000. debit to Interest Expense of $4,000
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