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One company's long-term debt (Notes Payable) was $500,000 in the beginning of one year. During the same year, it has paid $100,000 of the debt

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One company's long-term debt (Notes Payable) was $500,000 in the beginning of one year. During the same year, it has paid $100,000 of the debt in cash. This payment of the interest will reduce the future Interest Expenses. True False

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