Question: Multiple Select Question Select all that apply On January 1, Year 1, Burrows, Inc. received $8,900 and agreed to pay $10,000 on January 1. Year

Multiple Select Question Select all that apply On January 1, Year 1, Burrows, Inc. received $8,900 and agreed to pay $10,000 on January 1. Year 3. The market rate of interest is 6% compounded annually. Assuming Notes Payable includes the accrued interest through year-end December 31. Year 2, the journal entry to record the payment of this note on January 1, Year 3 includes a (Check all that apply.) $10,000 debit to Notes Payable $10,000 credit to Cash $1,100 debit to Interest Expense $8,900 debit to Notes Payable $8,900 credit to Cash $11,200 credit to Cash

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