Question: On September 1, 2021, Daylight Donuts signed a $160,000,10%, six-month note payable with the amount borrowed plus accrued interest due six months tater on March
On September 1, 2021, Daylight Donuts signed a $160,000,10%, six-month note payable with the amount borrowed plus accrued interest due six months tater on March 1, 2022 Daylight Donuts record the appropriate adjusting entry for the note on December 31, 2021. In recording the payment of the note plus accrued interest at maturity on March 1, 2022, Daylight Donuts would: (Do not round your intermediate calculations.) Multiple Choice Debit interest Expense, $5,333 Debit interest Payable, $2,667 Debit Interest Expense. $2.667 Debit interest Expense. $8.000
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