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9 Grant Corporation borrowed $75,000 cash on April 1, 2019, and signed a one-year 9%,...

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Accounting

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9 Grant Corporation borrowed $75,000 cash on April 1, 2019, and signed a one-year 9%, interest-bearing note payable. The interest and principal are both due on March 31,2020. A.What is the amount of interest expense for the year ended December 31, 2019? What is the journal entry to record this interest expense? B. Assume that the appropriate adjusting entry was made on December 31, 2019 and that no adjusting entries have been made during 2020. What is the amount of interest expense to be recorded when the interest and principal are paid on March 31, 2020? C. What is the amount to be paid to the bank on March 31,2020 for interest and principal

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