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On September 1, Sky Mountain Co. borrowed $56,000 on a 6%, 9- month note payable to Coast National Bank. Given no previous adjusting entries have
On September 1, Sky Mountain Co. borrowed $56,000 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: Multiple Choice debit to Interest Expense of $840. debit to Interest Expense of $1,120. debit to Interest Expense of $3,360. debit to Interest Expense of $2,520
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