On November 1, Mark Company borrows $50,000 from National Bank on a 4-month, $50,000, 6%...
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Accounting
On November 1, Mark Company borrows $50,000 from National Bank on a 4-month, $50,000, 6% note. The company prepares its financial statements annually. What entry must Mark Company make on December 31 before financial statements are prepared? * Debit interest payable and credit interest expense of $500 Debit interest expense and credit interest payable of $1,500 Debit interest expense and credit interest payable of $750 None of the above inter
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