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    myoffredo's Avatar
    myoffredo Posts: 5, Reputation: 1
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    #1

    Feb 6, 2012, 09:32 AM
    Journalizing
    How would you journalize on year's interest of 9 percent was paid on the note payable on July 1, 2011?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 6, 2012, 12:03 PM
    Debit Interest Expense for the amount of interest paid
    Credit Cash for the amount of interest paid
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