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Vega Inc signs a $100,000 4.2% 5-year loan on July 1, 2020. The terms of the loan state that accrued interest is due in
Vega Inc signs a $100,000 4.2% 5-year loan on July 1, 2020. The terms of the loan state that accrued interest is due in cash each June 30 of the loan term. What will Vega Inc record on its October 31, 2022 balance sheet for this loan? O Interest Payable $4,200; Loan Payable $100,000 Interest Payable $1,400; Loan Payable $100,000 Interest Expense $1,400; Loan Payable $100,000 Interest Expense $3,150; Loan Payable $96,850 Interest Payable $3,150; Loan Payable $100,000
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