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Will rate on multiple accounts if all 2 are answered Question 72) On March 1, Brutto Corp. issues a 5 year 4%, $120,000 note payable.

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Question 72) On March 1, Brutto Corp. issues a 5 year 4%, $120,000 note payable. The terms of the note include equal monthly instalment payments of $2,210. The entry to record the first instalment payment will include a a. debit to Notes Payable of $2,210. b. debit to Cash of $120,000. O c. debit to Interest Expense of $394. d. debit to Note Payable of $1,810. e credit to cash of $120,000. Question 42) In a promissory note, the party a. making the promise to pay is called the payee. O b. who is paid is called the payee. c. making the promise to pay is called the recipient. Od. who is paid is called the maker. e. none of the options

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