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The transactions below pertain to the Chase Bodmer Company, whose fiscal year ends December 31. On November 2020 Bodmer borrowed $25,000 at 6 percent interest
The transactions below pertain to the Chase Bodmer Company, whose fiscal year ends December 31. On November 2020 Bodmer borrowed $25,000 at 6 percent interest for 6 months. Recording the December 31, 2020 adjusting entry rounded to the nearest dollar, to accrue the interest on the note payable would include a: A. Credit to cash for $250 B. Credit to interest expense for $250 C. Debit to interest expense for $500 D. Debit to interest expense for $250
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