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Wells Fargo Bank agrees to lend the Block Builders Company $200,000 on January 1. Block Builders Company signs a $200,000, 8%, 6-month note. What entry
Wells Fargo Bank agrees to lend the Block Builders Company $200,000 on January 1. Block Builders Company signs a $200,000, 8%, 6-month note. What entry will Block Builders Company make to pay off the note and interest at maturity assuming that interest has been accrued to June 30? Interest Expense ..4,000 200,000 Notes Payable A. Cash.............. 204,000 Notes Payable ....... 200,000 8,000 Interest Payable OB. Cash... 208,000 Notes Payable 204,000 . Cash... 204,000 Interest Payable ......... 4,000 Notes Payable ........... 200,000 Interest Expense ....... 4,000 Cash.......... 208,000
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