On January 1,2010, you borrowed $10,000 on a five-year, 8% note payable. At December 31,2010, you should

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On January 1,2010, you borrowed $10,000 on a five-year, 8% note payable. At December 31,2010, you should record a journal entry that includes which of the following?

a. Note Payable of $10,000

b. Nothing; the note has already been recorded

c. Interest Payable of $800

d. Cash receipt of $10,000

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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Question Posted: May 11, 2024 11:04 PM

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On January 1,2010, you borrowed $10,000 on a five-year, 8% note payable. At December 31,2010, you should

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Financial Accounting

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