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Business, 14.04.2020 19:47 rocksquad7917

On December 1, Campbell Co. borrowed $10,000 cash from Second Bank by signing a 90-day, 6% interest-bearing note. On December 31, Campbell accrued interest expense of $50. Campbell does not use reversing entries. On March 1, the due date of the note, Campbell will record the payment with debit entries to which of the following accounts

A. Debit Notes Payable $10,000
B. Debit Interest Expense $100
C. Debit Interest Payable $50
D. Credit Cash $10,150

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On December 1, Campbell Co. borrowed $10,000 cash from Second Bank by signing a 90-day, 6% interest-...
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