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Business, 12.08.2021 01:10 andersonmm22

Martin company signed a $5,000, 3-month, 6% note payable, on Dec. 1, 2004, with the principle plus interest due on March 1, 2005. If the accounting period ends on Dec. 31, which of the following statements is true? the answer is: On March 1, 2005, Martin will debit interest payable for $25

can you explain why?

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Martin company signed a $5,000, 3-month, 6% note payable, on Dec. 1, 2004, with the principle plus i...
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