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The journal entry for accrued interest on a note payable by the borrower includes: a. a debit to Interest Expense and credit to Interest Payable.
The journal entry for accrued interest on a note payable by the borrower includes:
a. a debit to Interest Expense and credit to Interest Payable.
b. a debit to Interest Payable and credit to Cash.
c. a debit to Interest Expense and credit to Cash.
d. a credit to Interest Expense and debit to Notes Payable.
I put a, what do you think?
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