Business, 10.12.2020 17:00 colton1788

On October 1, 2018, Mills Company borrowed $131,000 cash on a one-year note that required Mills to pay 5 percent interest and $131,000 principal, both on September 30, 2019. Assuming the note is paid when due in 2019, what is the debit to interest expense when recording the payment of the note?

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On October 1, 2018, Mills Company borrowed $131,000 cash on a one-year note that required Mills to p...

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