Montana Company signed a $180,000, 90-day, 9% note payable, on December 1, 2019. If the accounting period ends on December 31, 2019, the entry made on the note's maturity (March 1, 2020) will include:
A) A debit to Interest Payable for $2,700
B) A debit to Interest Expense for $4,050
C) A debit to Interest Expense for $1,350
D) A debit to Interest Expense for $2,700
Correct Answer:
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