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Sheridan Company purchased a truck from Pharoah's Semi Corp. by issuing a 6-month, 7% note payable for $108000 on November 1. On December 31, the

Sheridan Company purchased a truck from Pharoah's Semi Corp. by issuing a 6-month, 7% note payable for $108000 on November 1. On December 31, the accrued expense adjusting entry is

A. Interest Expense3780Interest Payable3780

B. Interest Expense7560Interest Payable7560

C. Interest Expense1260Interest Payable1260

D. No entry is required.

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