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ABC Signed a 5-Year,9% Note Payable for $80,000 on May

Question 75

Multiple Choice

ABC signed a 5-year,9% note payable for $80,000 on May 1,2012.Which account will be credited when the note paid at maturity?


A) Note payable
B) Interest expense
C) Interest payable
D) Cash

Correct Answer:

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