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Swifty Corporation signed a three-month, zero-interest-bearing note on November 1, 2020 for the purchase of $494000 of inventory The face value of the note was

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Swifty Corporation signed a three-month, zero-interest-bearing note on November 1, 2020 for the purchase of $494000 of inventory The face value of the note was $507500. Swifty used a 'Discount of Note Payable account to initially record the note. Assuming that the discount will be amortized equally over the 3-month period and that there was no adjusting entry made for November, the adjusting entry made at December 31, 2020 will include a O credit to Discount on Note Payable for $4500, O debit to Discount on Note Payable for $4500 O debit to Interest Expense for $9000. O credit to Interest Expense for $9000

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