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Which of the following is the journal entry to accrue the year end interest owed on a note payable? a. Interest receivable xx Interest payable

Which of the following is the journal entry to accrue the year end interest owed on a note payable?

a.

Interest receivable xx

Interest payable xx

b.

Cash xx

Interest expense xx

c.

Interest expense xx

Interest payable xx

d.

Interest payable xx

Interest expense xx

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