FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On January 1, 2018, a business borrowed $18,000 on a five-year, 5% note payable. At December 31, 2018, the business should record
A. interest payable of $900.
B. note receivable of $18,000.
C. cash payment of $18,000.
D. nothing. ( The note is already on teh books.
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