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Thompson Company purchased a building for $150,000 on December 1 in exchange for a one-year loan at 6% with interest and note to be
Thompson Company purchased a building for $150,000 on December 1 in exchange for a one-year loan at 6% with interest and note to be paid one year later Assuming the company uses the acoval basis, what would be the adjusting entry on December 317 OA Interest Payable Interest Expense 9,000 3,000 OB. Interest Expense 750 Interest Payable 750 OC Interest Expense Interest Payable 9.000 9.000 OD. Interest Payable 750 Interest Expense 750
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