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PLEASE SHOW WORK Consider a nine-month $135,000 loan which charges 6% interest with all interest and principal paid at maturity. The loan started November 1,
PLEASE SHOW WORK
Consider a nine-month $135,000 loan which charges 6% interest with all interest and principal paid at maturity. The loan started November 1, 20X1 and the company published 12/31/20x1 financial statements Select the entry below that the borrower will record at August 1, 20X2 assuming no entries were made between January and July 31, 20X2. Note Payable Interest Expense Cash 135,000 8,100 143,100 Note Payable Interest Expense Cash 135,000 6,075 141,075 Note Payable Interest Expense Interest Payable Cash 135.000 4,725 1,350 141,075 Note Payable Interest Expense Interest Payable Cash 135,000 1,350 4,725 141,075 Note Payable Interest Expense Interest Payable Cash 135,000 6,300 1,800 143,100Step by Step Solution
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