On November 1, 2013, Green Corp.purchased equipment by signing a 3-month, 9% note for $100,000.The December 31, 2013 adjusting entry required in connection with this note is
A) debit Interest Expense and credit Interest Payable, $9,000.
B) debit Interest Expense and credit Interest Payable, $750.
C) debit Interest Expense and credit Interest Payable, $1,500.
D) debit Interest Expense and credit Cash, $1,500.
Correct Answer:
Verified
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