Mission Corp. borrowed $50,000 cash on April 1, 2016, and signed a one-year 12%, interest-bearing note payable. The interest and principal are both due on March 31, 2017. Assume that no adjusting entries had been made before December 31, 2016. Which of the following would be the required adjusting entry on December 31, 2016?
A) 
B) 
C) 
D) 
Correct Answer:
Verified
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