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Martin & Associates borrowed0 $5,000 on April 1, 2010 at 8% interest with both principal and interest due on March 31, 2011.

How much should be in the firm's interest payable account at December 31, 2010?

A. $300

B. $400

C. $0

D. $333

Accounting Basics, Accounting

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  • Reference No.:- M938090

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