Question: please answer ASAP D C A 6 a) On August 1, 2021, New Morning Bakery signed a 300,000,3% note payable with the amount borrowed plus
please answer ASAP
D C A 6 a) On August 1, 2021, New Morning Bakery signed a 300,000,3% note payable with the amount borrowed plus accrued interest due nine months later. 7 Required: R: 1 Cash paid for interest in Year 1. R: 2 Interest expense recognized in the Year 1 income statement. R R: 3 Total liabilities as of December 31, Year 1. R: 4 Cash paid for principal and interest on maturity date. R: 5 Interest expense recognized in the Year 2 income statement
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