Question: On January 1 , Year 1 , Burrows, Inc. received $ 8 , 9 0 0 and agreed to pay $ 1 0 , 0

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 Blank______.(Check all that apply.) Multiple select question. $11,200 credit to Cash $10,000 credit to Cash $8,900 debit to Notes Payable $1,100 debit to Interest Expense $8,900 credit to Cash $10,000 debit to Notes Payable

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