Question: Interest payable on a loan becomes a liability: 1. When the borrowed money is received. 2. When the note payable is issued. 3. At the

  1. Interest payable on a loan becomes a liability:
  2. 1. When the borrowed money is received.
  3. 2. When the note payable is issued.
  4. 3. At the maturity date.
  5. 4. As it accrues.

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