Multiple Choice
On the first day of January,Patricia borrowed $5000 on a one-year loan payable bearing interest at 7% per year.The loan specifies that principal and interest must be paid in full at the end of the one-year period.On 30 June,the adjusted trial balance will show Interest payable of:
A) $175 credit
B) $350 debit
C) $175 debit
D) $350 credit
Correct Answer:
Verified
Correct Answer:
Verified
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